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Sunday, July 21, 2024

KIDO’s profit in H1 soars to eight-year high

The Saigon Times

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HCMC – KIDO Group, which trades its KDC shares on the Hochiminh Stock Exchange, has announced that its pre-tax profit was VND727 billion in the first half of 2023, an eight-year high.

The group’s after-tax profit was VND501 billion in the six-month period, up 48% versus the year-ago period. However, the net revenue fell by 31% year-on-year to around VND4,377 billion.

With this business performance, KIDO Group has completed 80% of its full-year plan.

A leader of KIDO Group said that the sudden surge in profit primarily stemmed from financial investment activities. The group divested from several companies, such as Calofic and KIDO Foods, and effectively increased its stake in Tho Phat Food Processing Company.

Closing the trading session today, July 20, KDC shares increased by 0.79% over yesterday’s session to VND64,000 per share, with around 1.1 million shares changing hands.

On the southern bourse, the VN-Index inched down 0.17 points, or 0.01%, from the session earlier, at 1,172.81 points, with 252 gainers and 201 losers.

Over 796 million shares valued at VND16.4 trillion changed hands, down 11% in volume and 7% in value against the previous session.

Steel maker HPG was the main supporter of the VN-Index today as it soared by 2.9% to VND28,200 per share, with over 30.8 million shares traded, the highest matched volume on the market today.

FPT and lender VPB also surged by 2.3% and 1.7% to VND80,300 and VND21,000, respectively.

Lender VCB dragged the index down as it plunged by 1.41% to VND105,000 per share. VHM dropped by 1.37% to VND57,700 per share.

The HNX-Index of the Hanoi exchange added 1.6 points, or 0.69%, at 233.07 points, with 99 advancers and 68 decliners.

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