[Public Notice+] YG PLUS Reports Operating Profit of 1.2 Billion KRW Last Year... "Maintaining Positive Earnings Trend"
[Asia Economy Reporter Yoo Hyun-seok] YG PLUS, a subsidiary of YG Entertainment, announced on the 26th that its operating profit on a consolidated basis last year was 1,195.66 million KRW, continuing its profitability following 2018. During the same period, sales increased by 33.1% year-on-year to 124.52558 billion KRW, but the net loss widened to 4.2497 billion KRW.
The company stated, "Sales from our core business, the music business, increased significantly, driving growth, and efforts to improve profitability resulted in double-digit operating profits following 2018. However, net loss increased compared to the previous year due to losses from discontinued operations related to the restructuring of some businesses."
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Recently, YG PLUS has begun restructuring its food service business operated by its subsidiary YG Foods, and through this, profitability is expected to improve more noticeably starting this year. Additionally, the company plans to accelerate growth by further strengthening its core businesses such as music and merchandise.
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