Kyochon F&B Reports Q1 Operating Profit of 11.9 Billion KRW, Up 67.3% YoY
Asian Cup and World Cup 'Chimaek Effect'
Growth in Dining Brands, Sauces, and Eco-Friendly Packaging
Kyochon F&B, the operator of Kyochon Chicken, announced on the 10th through a public disclosure that its consolidated operating profit for the first quarter of this year was 11.9 billion KRW, a 67.3% increase compared to the same period last year. However, sales revenue decreased by 5.9% year-on-year to 113.3 billion KRW.
According to Kyochon F&B, sales showed a recovery trend early this year due to sports events such as the Asian Cup and World Cup qualifiers. Additionally, sales from new dining brands like Memildanpyeon, the sauce business, and eco-friendly packaging materials increased.
Kyochon F&B is prioritizing the protection of franchise store business areas and has maintained a store closure rate in the 0% range.
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A Kyochon F&B representative stated, "Based on the new vision 'Sincere Management' declared this year, we aim to improve brand image, meet customer demand, and achieve a performance rebound. We plan to steadily expand not only domestic business but also global business and new ventures to increase corporate value."
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