Lotte GRS Reports Operating Profit of 1.7 Billion KRW Last Year... Returns to Profitability After 2 Years

Lotte GRS has succeeded in turning a profit for the first time in two years.

According to the Financial Supervisory Service's electronic disclosure system on the 3rd, Lotte GRS recorded an operating profit of 1.7 billion KRW on a consolidated basis last year.

Sales increased by 15.6% compared to the previous year, reaching 781.5 billion KRW, and the net loss for the period decreased by 69% to 300 million KRW.

Lotte GRS is Lotte's food service affiliate operating brands such as Lotteria and Angel-in-us. After recording an operating profit of 21.3 billion KRW in 2019, it turned to an operating loss of 19.6 billion KRW in 2020, and the operating loss widened to 25.8 billion KRW in 2021.

A Lotte GRS official stated, "Based on this year's return to profitability, we plan to strengthen the brand power of our franchise brands and strive to acquire concession rights for new growth businesses." He added, "We will also expand our overseas business by entering new countries in addition to existing markets."

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