On 20 April 2018, Khanh Hoa Mineral Water Joint Stock Company – FIT Beverage held the Annual General Meeting (AGM) in 2018 on Floor 5 – Times Tower – HACC1 Complex – 35 Le Van Luong – Thanh Xuan District – Hanoi.
At the meeting, the Board of Directors and shareholders approved the main contents such as the report of the Board of Directors on business results in 2017 and orientation in 2018, the report of the Inspection Committee, the audited financial statement of 2017 as well as other issues under the authority of the General Assembly of Shareholders.
In the year 2017, despite the advantages from the fact that the domestic economic situation has recovered and positively changed, however, the drinking water sector is still a competitive one. With the above situation, the Board has strengthened the steering committee to promote the production and business activities of the company such as stabilizing the organizational structure, building more factories, warehouses; developing distribution channels, researching and developing new products, expanding more markets. The unfavorable weather, heavy rain in the central provinces and the typhoon No. 12 landing in Khanh Hoa in early November, 2017 has affected the company’s revenue, total revenue increased by 12% over 2016 but the large cost of machinery investment projects, new product development and flood damage caused the company to break even in 2017.
At the meeting, the target for 2018 has been approved with a total revenue of 250 billion VND, up 18% compared to 2017 and after-tax interest expected to increase by 40%. On capital investment – construction, priority shall be given to additional investment or overhaul of production equipment in replacement of degraded equipment, ensuring sufficient production capacity to supply goods to the market. As for brand promotion, in 2018, Vikoda will continue to research and improve the packaging design to suit the market demand; promoting the brand of Danh Thanh and Vikoda; developing new products that tend to sell well; deepening marketing research, developing a more effective advertising strategy, and promoting the product on effective channels. In addition, the company will continue to focus on developing highly profitable and effective products and focus on product groups in a streamlined but effective way and grow market share.
With efforts to overcome the difficulties in 2017 and 2018 strategic orientation to invest strongly in facilities, key product development as well as Vikoda brand positioning in the target market, Vikoda’s leaders and staffs are showing their continuous efforts to bring Vikoda to be among the top 10 drinking water companies in Vietnam with the mission to bring the wonderful natural mineral water of Vietnam to the world. And with strategic consulting and investment from its parent company, FIT Group, 2018 promises to be an important milestone for the Vikoda brand to a new level, strengthened in key markets, step by step expanding the market to the whole country and starting to reach the world market.
