Lotte GRS Reports Operating Profit of 6.4 Billion KRW in Q1, Returns to Profitability

Lotte GRS announced on the 17th that its sales in the first quarter of this year reached 219.1 billion KRW, a 26% increase compared to the same period last year, and operating profit turned positive to 6.4 billion KRW.

Lotte GRS. [Photo by Lotte GRS]

Last year, on a consolidated basis, sales were 781.4 billion KRW and operating profit was 1.7 billion KRW. On a separate basis, sales were 773.3 billion KRW and operating profit was 5.3 billion KRW.

A Lotte GRS official explained, “Thanks to steady growth in sales across all business sectors, including the FC business division (burger, coffee, donut) and the new growth business division (concession business), net profit for the period turned positive to 1.8 billion KRW this year, compared to a loss of 2.9 billion KRW last year, achieving a first-quarter profit turnaround.”

Lotte GRS stated that during the first quarter of this year, same-store sales of all brands increased by about 38% compared to the previous year, with the FC business division’s Lotteria and Angel-in-us brands’ same-store sales increasing by approximately 41% and 54%, respectively.

Based on the profitable performance in the first quarter of this year, Lotte GRS plans to focus on enhancing corporate value through strengthening store operation efficiency by securing competitiveness and improving profitability for each brand in the FC business division, as well as expanding the concession business in the new growth business division by expanding leasing operations and creating new FC models.

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