Hyundai Home Shopping announced on the 7th that its operating profit for the first quarter of this year was tentatively estimated at 20.6 billion KRW on a separate basis, a 14.9% increase compared to the same period last year (17.9 billion KRW).


During this period, sales increased by 11.1% to 295.5 billion KRW.


Hyundai Home Shopping explained that the improved performance was due to strong sales of domestic travel, kitchen, and insurance products.


From this year, Hansome and Hyundai Futurenet have been included as subsidiaries of Hyundai Home Shopping under accounting standards, resulting in consolidated sales of 997 billion KRW and operating profit of 58.3 billion KRW. These figures represent increases of 101.7% and 247.4%, respectively, compared to last year.


Net profit for the period turned positive at 119.9 billion KRW.


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The inclusion of subsidiaries is a follow-up procedure resulting from Hyundai Department Store Group, the parent company of Hyundai Home Shopping, transitioning to a single holding company, Hyundai G.F. Holdings.


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