BGF Retail Reports Operating Profit of 199.4 Billion KRW Last Year, Up 22.9% YoY (Comprehensive)

[Asia Economy Reporter Lim Chun-han] BGF Retail announced on the 10th that its consolidated operating profit for last year was tentatively estimated at 199.4 billion KRW, a 22.9% increase compared to the previous year.

Sales reached 6.7812 trillion KRW, up 9.7% from the previous year. Net profit increased by 20.3% to 147.6 billion KRW.

Operating profit for the fourth quarter was 49.6 billion KRW, a 39.7% increase compared to the same period last year. Sales and net profit for the same quarter were 1.743 trillion KRW and 35.6 billion KRW, respectively.

BGF Retail explained that the success of differentiated products such as GomPyo, YangPyo, and MalPyo beer, the expansion of lifestyle services like CU Kkiri delivery, effective responses to the spread of local consumption through ultra-low price promotions, and active introduction of new products and sales activities led to improved sales at existing stores.

BGF Retail stated that stable new store openings were achieved through a strong brand power and a profitability-focused store opening strategy. As of the end of last year, the number of stores was 15,855, an increase of 932 compared to the previous year.

BGF Retail said, “This year as well, we plan to systematically implement management strategies focused on the essence of the convenience store business, which is customer-tailored convenience and enhancing franchise competitiveness.”

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