Hyundai Livart's Q1 Operating Profit Up 40%... Sales Retreat Amid Construction Slump
Operating Profit Reaches KRW 9.5 Billion, Sales Down 13.3%
Strengthened B2C and Cost Structure Improvements Drive Results
Hyundai Livart announced on May 9 that its sales for the first quarter of this year reached KRW 437.8 billion, with an operating profit of KRW 9.5 billion. While sales decreased by 13.3% compared to the same period last year, operating profit increased by 39.9% over the same period.
Net profit for the period was KRW 6.6 billion, up 40% from the same period last year.
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A Hyundai Livart representative stated, "Sales declined as the volume of built-in furniture supplied decreased due to a slump in the construction market," and added, "We significantly increased operating profit by improving our portfolio to raise the proportion of B2C (business-to-consumer) furniture sales and by improving the cost structure for built-in orders."
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