Instant noodle producer Colusa-Miliket, best known for its Miliket brand, reported record revenues of VND631 billion (US$26.7 million) for 2022 following a 10% rise.
It declared its results for last year showing net profits were up 50% from 2021 at VND21 billion, but lower than in the pre-pandemic period.
Over 93% of Colusa-Miliket’s revenues came from the domestic market, but growth and profit margins were higher in overseas markets.
Miliket instant noodles, with its logo containing two prawns, remained its flagship product. This brand appeared before national reunification in 1975, and has dominated the market for years.
The company failed to achieve its targets of selling 19,000 tons of instant noodles, porridges, noodle soups, and instant pho and garnering revenues of VND729 billion last year.
In 2021, the latest year for which data is available, Vietnamese consumed 411,500 tons of instant noodles, 9% more than in 2020, according to the British market research firm Euromonitor.
Sales were worth VND3.8 trillion.
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