Future Life Resources, Q1 Sales Reach 21.3 Billion Won

[Asia Economy Reporter Hyungsoo Park] Future Life Resources, a materials specialist company, announced on the 15th that it recorded sales of 21.27 billion KRW on a consolidated basis for the first quarter of this year. Sales by business segment achieved 18.23 billion KRW in the feed division and 3.04 billion KRW in the food division. Operating profit and net income increased by 134% and 58%, respectively, compared to the same period last year. Operating profit was 770 million KRW, and net income was 480 million KRW.

A representative from Future Life Resources explained, "In the domestic market, sales increased due to price normalization and increased ODM and OEM orders for premix products from large feed companies," adding, "Overseas sales grew thanks to increased revenue from the Singapore local subsidiary." They further noted, "Continuous sales and marketing activities in the pet business sector and the discovery of new large distribution clients in the food division also contributed to improved performance."

Additionally, they emphasized, "In the feed division, we are actively pursuing differentiated product development and pet business promotion, while in the food division, we are actively diversifying our business with home meal replacement (HMR) products," and stressed, "We are focusing on marketing strategies to promote sales of our own brand products."

Future Life Resources expects increased profits through entry into the health functional food sector, which is a new growth engine.

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