KIDO Food remains ice cream market leader

KIDO Food remains ice cream market leader

KIDO Food continued to lead the ice cream market with growth of 16 per cent last year, the company said on Thursday.

It quoted a report from Euromonitor saying that last year the average growth in the ice cream market was 14.7 per cent.

The strong cash flow in the ice cream segment boosted the company’s revenues last year to nearly VND1.5 trillion (US$65 million), a 7 per cent rise from 2016.

Some new products also contributed to the increase in revenue, the company said.

The new products, including frozen french fries, pushed revenues from frozen foods up by 77 per cent.

KDF reported profit after tax of VND152 billion ($6.6 million), a 6.7 per cent increase.

The company said it would focus on R&D to achieve higher growth and profits.

KIDO Food, a member of the KIDO Group, was established in 2003 after the latter bought the Wall’s ice cream plant from Unilever.

The company has since established some iconic brands like Merino and Celano.

In 2016, the company entered the frozen food industry and has periodically been adding new products to expand its portfolio.

bizhub