[Public Notice+] FN Republic Reports 34.1 Billion KRW in Revenue Last Year... Returns to Deficit

[Asia Economy Reporter Yoo Hyun-seok] F&Republic announced on the 27th that its consolidated sales last year amounted to 34.1 billion KRW, with a net loss for the period.

A company official stated, "This is due to a non-cash outflow allowance for doubtful accounts of 10 billion KRW and goodwill amortization of 20 billion KRW related to affiliates," adding, "However, since these are mainly financial evaluation factors, there is sufficient possibility for reversal depending on the business environment."

Additionally, accounts receivable and inventory, which had been stagnant, decreased by 32.2 billion KRW and 13.7 billion KRW respectively compared to the previous year, as a result of continuous improvements to maintain appropriate levels. A company official said, "We will strive to overcome external environmental factors and recover sales."

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