[Special Stock] Nongshim Declines Amid Last Year's Poor Performance

Nongshim is showing a downward trend due to poor performance last year.

As of 9:09 a.m. on the 13th, Nongshim is trading at 340,500 KRW, down 8,500 KRW (2.44%) from the previous day.

On the previous day, Nongshim announced that its consolidated operating profit for last year was tentatively estimated at 163.1 billion KRW, a 23.1% decrease compared to the previous year. During the same period, sales increased by 0.8% to 3.4387 trillion KRW, but net profit decreased by 8.1% to 157.6 billion KRW.

Daishin Securities adjusted Nongshim’s target stock price down by 5% from the previous estimate to 460,000 KRW, reflecting cost burdens and other factors. Han-sol Jeong, a researcher at Daishin Securities, explained, "Nongshim recorded results in the fourth quarter last year that significantly missed the consensus (average securities firm forecast). Various marketing activities are planned to establish new products in the market, and due to some raw material price increases, there is a cost burden, so we lowered the operating profit estimates and reduced the target stock price."

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