Due to the Prolonged COVID-19 Pandemic, Ramen Sales Soar... Nongshim's Q3 Operating Profit Increases by 58%
[Asia Economy Reporter Park Sun-mi] As the spread of the novel coronavirus infection (COVID-19) continues, Nongshim recorded a 'surprise' strong performance in the third quarter of this year.
On the 16th, Nongshim announced that its consolidated third-quarter sales reached 651.4 billion KRW, a 10.4% increase compared to the same period last year, marking the highest sales ever. Operating profit was 29.3 billion KRW, up 57.9%, and net profit was 29.5 billion KRW, up 83.2%.
This is due to the surge in demand for ramen both domestically and internationally amid the prolonged COVID-19 pandemic.
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Nongshim also noted that ramen sales are increasing overseas, expecting this year's overseas sales to exceed 1.1 trillion KRW, with Shin Ramyun sales reaching the 400 billion KRW range, a 30% increase compared to last year.
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