Samkwang Glass Reports Operating Profit of 3.2 Billion KRW in Q1, Returns to Profitability

[Asia Economy Reporter Moon Hyewon] Samkwang Glass announced on the 23rd that it turned a profit in the first quarter of this year with an operating profit of 3.2 billion KRW.

Sales increased by 49.2% (27.6 billion KRW) compared to the same period last year, reaching 83.6 billion KRW, and net profit for the period rose by 1014.9% (5.5 billion KRW) to record 3.7 billion KRW.

Samkwang Glass views the results of its company vision to focus on the 'glass business,' following the spin-off and sale of its can business division in October last year, as appearing faster than expected.

Lee Wonjun, General Manager of Samkwang Glass, said, "We believe the results of focusing on the glass business, which was presented as the company vision after the spin-off and sale of the can business division in October last year, have appeared faster than expected. This year, we will do our best to increase sales and operating profit based on the quality and technology of glass products."

Samkwang Glass's B2B business, the glass bottle segment, is showing strong performance due to steady demand for glass bottles. In the overseas business sector, despite the spread of COVID-19, efforts to secure new clients continue, including successfully exporting to Chile.

In the domestic household goods division, as the proportion of customers cooking or replacing meals at home increased due to the spread of COVID-19, online sales of products including Glasslock doubled compared to the same period last year.

This content was produced with the assistance of AI translation services.