KIDO Group reports steady sales in oil and frozen businesses

09-Apr-2020 Intellasia | VNS | 6:02 AM Print This Post

Food producer KIDO Group has announced that its edible oil and frozen businesses have had steady sales thanks to its prompt adaptation to the COVID-19 crisis.

The group said that, as an enterprise operating in the essential food field, the group’s member company, Tuong An Vegetable Oil Joint Stock Company (TAC), has planned a commodity strategy with a focus on ensuring commodity supply for production, optimising inventory and ensuring sufficient goods to meet consumers’ essential needs at stable prices.

TAC has assessed market reactions to the impact of the pandemic from time to time to quickly grasp essential food consumption needs and the tendency to choose nutritionally pure products to improve health resistance and strengthen the immune system.

From that, TAC has promoted its premium immunisation and diversification strategy, focusing on premium and key products; and has proactively improved and developed high nutritional value products to meet the needs of consumers.

It has also effectively exploited modern sales channels to continue increasing product coverage in traditional and modern channels.

As a result, the company reached net revenue of VND1.043 trillion (US$44.5 million) and pre-tax profit of VND37 billion ($1.6 million) in the first quarter of the year, with a growth rate of 23.5 per cent and 22.5 per cent, respectively.

Another KDC company, KIDO Foods, has recorded an impressive profit.

With its effective implementation, in the first quarter of the year, although KDF recorded net revenue of VND260 billion ($11.1 million), slightly down by 2.3 per cent year-on-year, pre-tax profit increased by 15.9 per cent year-on-year, reaching VND27.3 billion ($1.2 million).

Amid the COVID-19 pandemic, KDF actively adapted its operation strategy by focusing on shifting distribution systems; promoting sales in supermarket, convenient stores, and minimart channels; quickly grasping the shift in consumers’ needs and habits from traditional shopping to online shopping; integrating multiple channels to bring products to consumers; and enhancing its multi-channel strategy.

KDF has also carefully prepared backup plans in logistics, human resources and production in case of a prolonged and complicated epidemic.

In order to maximise cost effectiveness and increase profit, KDF has continued to restructure, reduce unnecessary costs, apply information technology in asset management, and enhance business performance.

In addition to its diversified product portfolio with the capability of meeting the various needs of customers, KIDO Foods is a pioneer in product quality improvement and diversification, and often launches new brands that impress customers, including incorporating new snack trends into new products last year, such as Watermelon Ice cream, Bubble Milk Tea and Thai tea ice cream.

http://bizhub.vn/corporate-news/kido-group-reports-steady-sales-in-oil-and-frozen-businesses_314610.html

 


Category: Business, Vietnam

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