"Overseas Sales Smile"…Binggrae's Q1 Operating Profit Up 65.2% YoY
Sales Revenue of 300.9 Billion Won... 2.5% Increase
Binggrae succeeded in improving profitability in the first quarter of this year based on overseas sales growth.
Binggrae announced on the 16th through a public disclosure that its consolidated operating profit for the first quarter of this year was 21.1 billion KRW, an increase of 65.2% compared to the same period last year.
During the same period, sales increased by 2.5% to 300.9 billion KRW. Looking at the sales composition by product category, refrigerated items including Banana Flavored Milk and Yoplait recorded 153.1 billion KRW, while frozen and other items such as Together recorded 147.8 billion KRW.
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A Binggrae official explained, "Sales increased compared to the previous year due to the growth in sales of major products and overseas sales," adding, "Operating profit increased due to profitability improvement from overseas sales growth and expansion of product mix with high profitability."
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