With VND 612 in profit before tax in 2013, Kinh Do exceeded its profit before tax target of VND 600 billion set by the AGM.

Kinh Do Corporation (KDC) announced its 2013 consolidated financial results

4Q2013 gross profit margin of Kinh Do reached 38% reduced from 41 % compare to the same period last year. However, year to date margin was stable at 43% slightly lower compares to last year.

Kinh Do stated that the business undergoed a restructuring process which started since mid year 2012 and continue to be executed in 2013. This restructure was part of many reasons helped the company maintained a stable margin of 43% -44 %. Gross margin in Q4 downed slightly but for the year grew by 6 % to reach VND 1.975 billion.

Net sales rose 5.75 % in Q4 to reach VND 1.130 billion. Full year net sale grew 6 % to reach VND 4.563 billion.
2013 financial performance

2013 financial performance

Financial activity is not a main business of the company but in Q4 recorded net income of VND 23 billion increased sharply from VND 3,5 billion in the same period last year. For the whole year, net financial income reached VND 110 billion, down VND 23 billion from VND 133 billion last year.

Although the company had to bear the brand restructuring cost and increased costs from advertising and promotion activities for 20 years anniversary of the company, the total cost of selling and management expenses in 2013 still remained at VND 320 billion down VND 10 billion compared to last year.

Q4 Profit after tax reached VND 95.33 billion in which net profit (profit belonged to the shareholders of the parent company) was VND 95.1 billion, increased 103% from last year. Year to date net profit reached VND 502.1 billion, increased 42% compared with 2012.

With VND 612 billion dong in profit before tax in 2013, Kinh Do exceeded its VND 600 billion profit before tax target set by the AGM.

According to Thanh Hiên – CafeF