Kinh Do Corp says Q1 profit fell 60 percent

Kinh Do Corp., a producer of baked goods and candy, had a first quarter pretax profit of VND21 billion (US$1.2 million), down 60 percent from a year earlier, said Le Phung Hao, the company’s deputy general director.

This year’s peak season during the Lunar New Year Festival was earlier than last year and so much of Kinh Do’s sales took place in December, Hao said in an interview yesterday. The Ho Chi Minh City-based company’s sales were also hurt by the domestic economic slowdown, he said.

thanhnien, Bloomberg

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