[Public Notice+] In크로스, Q1 Operating Profit 1.6 Billion KRW... Up 31.4% YoY

[Asia Economy Reporter Yoo Hyun-seok] Incross announced on the 7th that its consolidated financial statements for the first quarter showed sales of 6.799 billion KRW, an increase of 0.8% compared to the same period last year, and operating profit of 1.635 billion KRW, up 31.4%. Net profit for the period increased by 25.9% to 1.342 billion KRW.

The core business, the media rep division, recorded solid performance growth despite the traditional off-season in the advertising industry and the impact of COVID-19. Transaction volume and sales increased by 8.7% and 9.6% respectively compared to the same period last year, and operating profit rose by 26.6%. The ad network division's sales decreased by 41.8% compared to the first quarter of last year, but the deficit was reduced.

Lee Jae-won, CEO of Incross, said, “Although market uncertainty exists due to the impact of COVID-19, as the domestic situation is entering a stabilization phase, marketing activities are expected to normalize again in the second quarter. We will do our best to strengthen sales competitiveness and improve cost efficiency to maintain steady performance growth in the next quarter.”

Meanwhile, Incross, together with SKT, launched a performance-based advertising product called ‘T-Deal’ using LMS/MMS (Long Messaging Service / Multimedia Messaging Service) at the end of last month. The company explained, “This year, in addition to the stable growth of existing businesses, we plan to develop new advertising products utilizing SK Group’s media and continuously grow by offering differentiated digital advertising services.”

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