In the field of food, Western Food Processing and Export Joint Stock Company (Westfood) still affirms its position in the market. From the third quarter of 2020 onwards, Westfood began to receive new product orders and the new Cup closing lines began to operate, thanks to that the revenue in 2020 remained stable at a high level, reaching nearly 293 billion dong, pre-tax profit was nearly 24 billion dong.
In particular, Westfood is actively expanding its raw material area to be proactive in the source of input fruit materials in terms of output as well as quality.In the segment of fast-moving consumer goods (FMCG), an industry with a growth rate of 5 – 6% per year in Vietnam, FIT Group currently owns 2 companies, FIT Cosmetics Joint Stock Company (FCO) and Today Cosmetics Joint Stock Company with personal care and home hygiene products.FIT Cosmetic’s bio-products are environmentally friendly and protect consumers’ health such as: hand sanitizer; washing liquid, dishwashing liquid maintaining high sales and popular among consumers.
As for Khanh Hoa Mineral Water Joint Stock Company (Vikoda), which is assessed to be heavily affected by the second Covid-19 epidemic, the business still has a pre-tax profit of nearly 3.4 billion VND.Owning the positive business results, FIT’s General Meeting of Shareholders approved the 2020 profit distribution plan with a total distributed profit of over 319.73 billion VND, and approved the dividend payment plan at the rate of 10 % to shareholders in the form of shares, implementating in 2021.
Confident Target to become a billion dollar enterprise
2021 is considered to be the year FIT Group to reap the fruits of the restructuring process, also an important step forward to make the Group become a billion-dollar corporation in the future from its outstanding growth, net revenue from business activities. Revenue is expected to reach over 1,331 billion dong, up over 12%; total pre-tax profit is over VND 217 billion, an increase of nearly 50% compared to 2020, profit/revenue ratio of 16.3%.
In which, in 2021, phase 1 of the project of Padaran Mui Dinh Experience Tourist Area will be Bai Trang area, including beach villas and mountain villas overlooking the sea; 5-star hotel with 500 rooms with a total investment of 60 million USD.
These products will include the purpose of selling, leasing and operating. Particularly for phase 1, although the total investment is not large, it is expected to bring a profit of 2,500 billion VND. The total project of Mui Dinh Padaran has a total investment of 1.2 billion USD, on a scale of nearly 800 hectares in Ninh Thuan.
In addition to that, in 2021, the pharmaceutical field (Cuu Long Pharmaceutical – DCL) completed and put into operation the Capsule 4 factory with an output of 2.4 billion capsules/year, bringing the total volume of capsules produced to nearly 8 billion tablets/year; invest in Benovas Medical Equipment Manufacturing Factory meeting European standards in the first quarter of 2020 with a value of over 15 million USD; cooperated with MA Holder to distribute cancer drugs, forecasting DCL’s revenue will reach 804 billion dong, gross profit will be 301.5 billion dong.
Besides, the enterprise continues to promote and perfect the sales model to increase the coverage of Cuu Long Pharmaceutical products to all localities in the country and to export a number of products.Regarding the agricultural industry and processing agricultural products for export, Westfood expands cooperation with agricultural partners to build a new factory, broadening the material area, expected to reach 1,000 hectares in the upcoming year.
In the field of FMCG, the Group has oriented to cut out product lines with low profit margins, focusing on products with high added value. For the Vikoda brand, in 2021 with the motto “Fast to Win”, Vikoda will take breakthrough actions to achieve the set goals such as: revenue reaching over VND 410 billion, gross profit reaching over VND 177 billion, nearly 50% increase compared to 2020.
