"Growth in China and Southeast Asia"... F&F Q3 Operating Profit Up 7.4% YoY (Comprehensive)
Provisional Total of 148.5 Billion KRW
Sales of 491.9 Billion KRW, Up 11.4%
Below Expectations Due to Global Economic Downturn
F&F announced on the 27th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 148.5 billion KRW, a 7.4% increase compared to the same period last year. Sales reached 491.9 billion KRW, up 11.4% year-on-year. Net profit increased by 8.8% to 119.1 billion KRW.
This figure slightly missed the securities market consensus (average forecast). Previously, the financial information company FnGuide had projected F&F's third-quarter performance at 537.7 billion KRW in sales and 158.6 billion KRW in operating profit.
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An F&F representative explained, "The results fell short of expectations due to the domestic and international economic downturn," but added, "Steady growth in China and Southeast Asia, including a gradual recovery in China's retail sales since July, led to an increase in overall company sales in the third quarter."
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