Daesang, Operating Profit of 139.2 Billion KRW Last Year... 9.2% Decrease YoY (Comprehensive)

Jongno Play Star Tower, Daesang New Headquarters. / Photo by Daesang

Daesang announced on the 9th that its consolidated operating profit for last year was tentatively estimated at 139.2 billion KRW, a 9.2% decrease compared to the same period of the previous year. Sales revenue increased by 17.7% to 4.0854 trillion KRW.

Sales revenue surpassed 4 trillion KRW for the first time on a consolidated basis for Daesang Co., Ltd. Net profit decreased by 45.2% to 79.4 billion KRW. Daesang cited the increase in sales of convenience foods and food products, the rise in sales of materials such as starch and sugar, and changes in net profit due to gains from the disposal of office buildings as the main reasons for the fluctuation in sales revenue.

A Daesang representative explained, "Sales grew by 17.7% year-on-year due to increased sales volume of domestic ready-to-eat meals and fresh foods, sales growth driven by a booming lysine market in the first half, and expanded sales of kimchi, gim (seaweed), and tteokbokki fueled by the global popularity of K-food." He added, "Operating profit decreased by 9.2% compared to the previous year due to worsening external conditions and rising prices of raw materials both domestically and internationally."

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