Owner of popular Trang Tien ice cream targets 2-fold profit hike in 2023

One Capital Hospitality JSC, owner of the well-known Trang Tien ice cream brand in Vietnam, is targeting a consolidated revenue of VND1.2 trillion ($50.88 million) in 2023, and consolidated after-tax profit of VND148 billion ($6.3 million), up 18% and 2 times year-on-year, respectively.

Trang Tien ice cream made its debut in 1958 and takes its name from an iconic street in the center of Hanoi. Trang Tien street was also the first place where the ice cream was produced and sold.

Despite the tests of time, Trang Tien ice cream still exists and continues to develop at 35 Trang Tien street, Hoan Kiem district.

The brand currently has outlets in most provinces and cities across the country.

One Capital Hospitality JSC, listed on the Hanoi Stock Exchange (HNX) as OCH, is also well known as owner of the famous Givral cake brand that was launched more than 70 years ago in Ho Chi Minh City.

In addition, the company owns a chain of Sunrise hotels and resorts in the central region, namely Sunrise Nha Trang, Sunrise Premium Resort & Spa Hoi An, and Star City Nha Trang.

In the field of food production, One Capital Hospitality JSC said it will continue to improve quality and develop new competitive products, while ensuring food safety thanks to natural and safe ingredients.

For the Trang Tien ice cream brand, the company will stabilize production to ensure supplies during the peak summer season, with more convenient payment options. However, pressure on this brand is increasing as new, strong players have entered the F&B market.

The firm will also continue developing the Givral cake brand in the Hanoi market, ensuring outstanding quality in the same price segment as competitors like Fresh Garden and Hai Ha Kotobuki. At the same time, in the southern region, Givral will strive to maintain its top 3 position for fresh cakes and birthday cakes.

In its hotel and resort business, the occupancy rate of Sunrise Nha Trang hotel rooms is expected to reach 59.9% in 2023, while the figure for the StarCity Nha Trang Hotel is expected to be 57.8%.

In 2022, One Capital Hospitality JSC's revenue reached more than VND1 trillion ($42.6 million), and after-tax profit hit more than VND72 billion ($3.06 million), while in the same period the previous year it lost VND468 billion ($19.9 million).

OCH shares of One Capital Hospitality JSC were relieved of trading restrictions by the Hanoi Stock Exchange (HNX) on December 15, 2022, after it submitted separate financial statements and audited consolidated financial statements for 2021, and did not violate regulations on information disclosure for six consecutive months.

On the HNX, OCH finished at VND8,000 ($0.34) on Monday.