Pulmuone Achieves Record High First Half Performance... "Growth in Food Service Distribution Business"

Sales of 1.4854 trillion KRW · Operating Profit of 29 billion KRW

Pulmuone announced on the 14th that its consolidated operating profit for the first half of this year reached 29 billion KRW, a 33% increase compared to the same period last year. Sales during the same period rose 9.5% to 1.4854 trillion KRW. Operating profit for the second quarter was 16.8 billion KRW, up 7% year-on-year, and sales increased 7% to 755.4 billion KRW.

In the domestic business, the Food Service Distribution segment led growth in sales and operating profit through business structure improvements and continuous expansion of group catering. In overseas operations, the U.S. subsidiary contributed to sales growth and operating profit improvement through price increases and stabilization of logistics costs, while the Japanese subsidiary also improved profitability due to strong sales of Tofu Bar and price hikes.

The Food Service Distribution segment achieved second-quarter sales of 193 billion KRW, a 14.7% increase year-on-year, and operating profit of 5 billion KRW, a 110% increase. Sales grew due to strong performance at rest areas and concessions, new group catering contracts, and renewals, while operating profit expanded through a selection and concentration strategy focused on large-scale business sites.

The U.S. subsidiary, which accounts for the largest share of overseas business, saw second-quarter sales grow 21.8% year-on-year and significantly reduced losses through internal cost improvements, price increases, strong sales of tofu and Asian noodles, and logistics cost stabilization. The Japanese subsidiary achieved breakeven in the second quarter this year due to continued growth in sales of the profitable Tofu Bar and aggressive price increases. The Chinese subsidiary is recovering sales of pasta (refrigerated noodles) and expanding its product portfolio.

Pulmuone is driving continuous growth in its Food Manufacturing and Distribution business centered on the sustainable food brand ‘Jigu Sikdan’ launched in August last year. For the Food Service Distribution business, the company plans to actively expand third-quarter sales through increased group catering contracts and renewals, and revitalization of sales channels at rest areas and airports, while focusing on profit expansion by improving operational efficiency. Overseas, Pulmuone intends to sustain growth and profitability improvement by expanding the Asian noodle production line in the U.S. in the second half, increasing the lineup and sales channels of the main Japanese product Tofu Bar, and strengthening high-growth items such as frozen foods and noodles in China.

Kim Jongheon, Pulmuone’s Chief Financial Officer, stated, "In the second half, we will focus even more on expanding overseas business based on sustainable growth and profit improvement through expanding the sustainable food brand lineup in our core domestic Food Manufacturing and Distribution business."

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