FSN, 3Q Sales of 42.5 Billion KRW... "Joining the Ranks of Media Commerce Performance"

[Asia Economy Reporter Hyunseok Yoo] Future Stream Networks, a comprehensive digital marketing group, is continuing its sales growth driven by the growth of its new media commerce business and overseas operations.

FSN announced on the 13th through its earnings disclosure that its consolidated sales for the third quarter of this year reached 42.46 billion KRW, an increase of approximately 14.9% compared to the same period last year. Operating profit for the same period slightly decreased to 1.06 billion KRW, but it exceeded the cumulative profit for the first half of this year, indicating a gradual recovery trend.

The company highlighted the main factors behind the third-quarter performance as ▲strong results from overseas operations including Clever Group, Vietnam's largest marketing company acquired earlier this year, and ▲growth in the new media commerce business sectors such as Boosters and Ringer Water. With the new business sectors fully joining the performance lineup and the gradual normalization of the advertising market, which had been stagnant due to the COVID-19 pandemic, the company expects meaningful growth to continue going forward.

An FSN representative stated, “Despite delays in budget execution by advertisers across the industry due to the impact of COVID-19, FSN has shown not only significant sales growth in the third quarter but also gradual improvement in profits. Especially given the seasonal nature of the digital marketing industry, with domestic and international large corporations expected to concentrate their advertising budgets in the fourth quarter, we plan to make multifaceted efforts to record meaningful performance growth.”

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