Ottogi Reports 33.8% Increase in Operating Profit Last Year... Impact of Convenience Food Boom

[Asia Economy Reporter Seungjin Lee] Ottogi achieved strong performance last year, supported by increased demand for home meal replacements (HMR) due to the impact of COVID-19.

Ottogi announced on the 8th that its consolidated sales last year reached 2.5958 trillion KRW, and operating profit was 198.4 billion KRW, up 10.0% and 33.8% respectively from the previous year. Net profit increased by 5.6% to 105.3 billion KRW.

Ottogi explained, "Sales of home meal replacements as well as ambient, refrigerated, frozen foods, and noodles increased," adding, "We proactively reduced selling and administrative expenses to cut costs."

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