KIDO (KDC) plans to buy 77% of Hung Vuong Plaza in the third quarter

At the 2024 Annual General Meeting of Shareholders, KIDO Group (Code KDC) announced its 2024 revenue plan of up to VND 13,000 billion, an increase of 50% compared to 2023. Pre-tax profit is expected to be VND 800 billion, 2.5 times higher than the previous year. Expected dividend payout ratio is 12%.

Regarding specific business directions, KIDO aims to optimize the supply chain of products and raw materials with cooking oil and butter products. Promote market exploitation in each region.

Kido plans to buy 77% of Hung Vuong Plaza in the third quarter (Photo TL)

For the spice and dry food industry, the company's leaders plan to continue diversifying the product portfolio and product lines, especially essential spices such as fish sauce, seasoning powder, soy sauce, and spice powder.

Kinh Do will expand the price and product segments of fresh cakes with short shelf life. Cakes with long shelf life will be distributed to the international market. Moon cakes will be distributed to corporate customers as well as diversifying the segments and prices.

Notably, regarding the dumpling product, KIDO leaders said that after the M&A deal with Tho Phat, the company has transformed some of the brand's operational structures. In the coming time, Tho Phat will focus on developing in the Central and Northern regions, building a system of 1,000 agents in 63 provinces and cities nationwide.

Regarding the ice cream industry, Kido focuses on rapidly developing the take-home ice cream market, while also seeking to penetrate the export market.

Another highlight announced by KIDO leaders is that it is expected that in the third quarter, KIDO will acquire 77% of Hung Vuong Plaza's charter capital, while the plan to merge Van Hanh Mall has not yet been implemented.

Regarding business operations, after experiencing a record loss of VND544 billion in Q4/2023, KIDO achieved revenue of VND1,815 billion in Q1/2024. Profit after tax was only VND22 billion.

Source: https://www.congluan.vn/kido-kdc-du-dinh-mua-77-hung-vuong-plaza-trong-quy-3-post299989.html