ducvt
19-02-2016, 01:28 PM
Foodstuff producer Kido Joint Stock Company (KDC) has reported a 45 per cent fall in pre-tax profit for the fourth quarter of last year. The profit fell to VND68 billion (US$3.1 million) on revenues of VND442 billion ($20,300).
The company attributed the downturn to its investments in new business segments like cooking oil, instant noodles, and other foodstuffs.
Besides, during the quarter the company did not get a big contribution from its snack business since it had sold 80 per cent of it to Mondelez earlier last year.
For full year 2015, KDC reported after-tax profit of nearly VND5.3 trillion ($243 million).
Last year the company spent VND4.9 trillion ($224 million) on paying dividends and VND1.3 trillion ($59 million) on buying treasury stocks.
The company attributed the downturn to its investments in new business segments like cooking oil, instant noodles, and other foodstuffs.
Besides, during the quarter the company did not get a big contribution from its snack business since it had sold 80 per cent of it to Mondelez earlier last year.
For full year 2015, KDC reported after-tax profit of nearly VND5.3 trillion ($243 million).
Last year the company spent VND4.9 trillion ($224 million) on paying dividends and VND1.3 trillion ($59 million) on buying treasury stocks.