Daesang Reports 57.3 Billion Won Operating Profit in Q1, Up 20.1% Year-on-Year
Sales Reach 1.1304 Trillion Won
Daesang improved its profitability in the first quarter of this year.
On May 15, Daesang announced that its operating profit for the first quarter reached 57.3 billion won, up 20.1% compared to the same period last year.
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During the same period, sales increased by 8.2% to 1.1304 trillion won. Net profit for the period was 28.4 billion won.
A Daesang official stated, "Despite weakened consumer sentiment due to the economic downturn, we made efforts to improve performance through global food growth and cost-efficient operations." The official explained, "Our results improved due to several factors: an increase in the selling price and sales volume of our lysine products following the imposition of anti-dumping duties on Chinese lysine in Europe; improved export performance due to a rise in exchange rates; and expanded sales of specialty products."
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