HCM CITY (Biz Hub) — Kinh Do Corporation (KDC), the giant Vietnamese confectionery producer, had a growth rate of 40 per cent in after-tax profits last year, despite a challenging economic climate.

The corporation posted after-tax profit of VND501 billion (US$23.8 million) last year, compared to more than VND357 billion ($17 million) in 2012, a press release said.

The pre-tax figure was VND612 billion ($29 million), exceeding the target set by shareholders.

"Although the macro economy has not recovered well and purchasing power remains low, KDC still exploited many opportunities last year," the press release said.

Total revenue gained last year was VND4.6 trillion ($219 million), up by more than 6 per cent year-on-year.

For 2014, the corporation will continue to consider food as their key business. Merger and acquisition will continue to be developed as investment opportunities.

KDC is a leading confectionery producer in Viet Nam. It was founded more than 20 years ago. — VNS