[Click eStock] The Power of 'Poketmonppang'

On the 3rd, citizens are lining up to purchase Pok?mon bread at a large supermarket in Seoul. Photo by Jinhyung Kang aymsdream@

[Asia Economy Reporter Junho Hwang] Shinhan Financial Investment raised the target price of SPC Samlip, which saw performance improvement in its bakery division thanks to 'Pokemon Bread,' to 96,000 KRW on the 11th.

SPC Samlip's sales in the first quarter of this year reached 724.8 billion KRW, an 11.1% increase compared to the same period last year. Operating profit also rose by 30.1% year-on-year to 13.6 billion KRW. Sales achieved the highest first-quarter record ever, and operating profit met market expectations.

The bakery division saw sales and operating profit increase by 9% and 17%, respectively. The performance was driven by price hikes, new product launches, efforts to develop mega brands, proactive increases in bread production capacity, expansion of dawn delivery channels, and strategic product releases tailored to each channel's characteristics. The food division showed improvement in both B2B and B2C sectors due to reopening, with sales and operating profit growing by 13% and 100%, respectively. The distribution division also turned its operating profit positive.

In particular, Shinhan Financial Investment expects a recovery in rest area performance, which had been sluggish over the past two years due to reopening.

Researcher Sanghoon Cho stated, "We raised the target price by 7% reflecting a faster-than-expected recovery in B2B channel performance," adding, "Despite last year's worst operating environment, the core business units maintained strong performance, and the recent reopening-driven recovery in the B2B channel is a positive sign."

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