"Increase in Sales of Ramen and Convenience Foods" Ottogi's Operating Profit Up 22% in First Half

Sales of 1.711 trillion KRW · Operating Profit of 129.9 billion KRW

Ottogi announced on the 14th that its operating profit on a consolidated basis for the first half of this year reached 129.9 billion KRW, an increase of 21.7% compared to the same period last year. During the same period, sales rose 11.7% to 1.711 trillion KRW, while net profit decreased by 7.1% to 80 billion KRW.

For the second quarter, operating profit was 64.6 billion KRW, up 35.4% year-on-year. Sales expanded by 8.2% to 854.2 billion KRW. Net profit increased by 38.4% to 42.4 billion KRW.

An Ottogi representative explained, "Increased sales of ramen, sauces, and convenience foods drove the rise in sales and operating profit," adding, "Net profit margin declined due to a decrease in non-operating income (real estate sales last year)."

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