Food producer Kido Group (KDC) reported on Wednesday that it had achieved its full-year profit target by the end of the third quarter. It said profit before tax was 9 per cent above the annual target of VND535 billion ($23.6 million) on revenues of VND5 trillion ($178 million), a 251 per cent increase.
Frozen foods contributed 24 per cent of the revenues, the company said.
KDC’s foray into the food industry two years ago has been successful, and it now has a nation-wide distribution system with 450,000 outlets selling canned foods and 70,000 others selling frozen food.
Efforts to expand the business and increase the frozen food range are under way, it said.
In the last quarter of this year it plans to bring a number of new products including new cooking oils, canned foods and sauces, it said.
It plans to tie up with Dabaco to produce new products like processed foods and sausage, it added.
Its other main product is instant noodles.