In the third quarter, Kido will acquire Hung Vuong Plaza with a 77% ownership ratio - Photo: HK
On June 19, KIDO Group (KDC) held its 2024 annual general meeting of shareholders, after 5 years of holding online meetings due to the impact of the COVID-19 pandemic.
The congress aims to approve a revenue plan of VND 13,000 billion - an increase of 50% compared to 2023 and pre-tax profit of VND 800 billion, 2.5 times higher than in 2023. With the above target, Kido proposes a dividend plan for 2024 at a rate of 12% on par value of shares (VND 1,200/share).
Mr. Tran Kim Thanh - Chairman of Kido - believes that the company will achieve a profit of 800 billion VND this year, thanks to the advantage of sales channels and diversified products with 4 main product lines: cooking oil - butter; spices; cakes & dumplings and ice cream.
In particular, the business segment that will be focused on is repositioning and building the Tho Phat and My Huong brands, expanding the market to the Central and Northern regions, building a system of 1,000 agents in 63 provinces and cities nationwide, and developing 50,000 points of sale nationwide.
Along with core business areas, the Entertainment to E-Commerce - E2E trade promotion project on the TikTok platform will continue to be a tool for the group to implement marketing strategies, capture consumer behavior, especially develop sales for product lines through livestreaming. This will also be a project that helps Kido spread its responsibility to the community and small and medium enterprises.
Sharing with shareholders, Mr. Thanh realized that people still need to eat, wear and use essential goods. Therefore, Kido does not choose the path of making quick money, but focuses on the essential consumer industry as a pillar.
Kido Chairman Tran Kim Thanh shared that since 2008, Kido has had the goal of making essential goods - Photo: HK
"Selling essential goods helps the company avoid economic and political fluctuations and still maintain good income for shareholders," Mr. Thanh said.
Regarding business strategy in 2024, Kido said it will continue to develop and expand the essential food industry; at the same time, focus on developing new products/industries such as cakes and butter.
Along with that, we aim to expand the distribution chain nationwide and aim to expand to foreign markets.
The company also wants to develop the miniBao system - a chain of convenience stores, exclusively providing Tho Phat products - with 12,000 stores.
Mr. Mai Xuan Tram - Deputy General Director - said that previously, the group had been selling moon cakes, and within just 2 months, it had opened 12,000 points of sale. Therefore, for the miniBao store, the management board also required a number of no less than 12,000.
Up to now, after 45 days of implementing the system, the group has opened 150 stores, all of which are making a profit.
Source: https://tuoitre.vn/kido-tham-gia-mo-hinh-kinh-te-chia-se-mo-hang-chuc-ngan-cua-hang-minibao-20240619150540509.htm
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