[Click eStock] "Dongwon F&B, Profitability Improves Due to Tuna Price Decline"

Kiwoom Securities analyzed on the 9th that Dongwon F&B achieved earnings that exceeded market expectations for the first quarter of this year.

Park Sang-jun, a researcher at Kiwoom Securities, stated, "It is estimated that Dongwon F&B recorded an operating profit of 55.7 billion KRW in the first quarter," adding, "The general food division's operating profit appears to have exceeded expectations thanks to the overall stabilization of raw material prices such as tuna prices and an increase in gift set sales.

He continued, "The feed division also likely saw an increase in operating profit compared to the same period last year due to improved profitability from cost stabilization, despite delays in recovery of livestock numbers and selling prices."

Researcher Park said, "The trend of profitability improvement is expected to continue this year," and analyzed, "As the period changes from La Ni?a to El Ni?o, the catch volume is expected to be higher than before." He added, "Tuna prices are expected to stabilize downward until the first half of this year," and raised the target stock price to 52,000 KRW.

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