Pulmuone Reports Q1 Operating Profit of 11.3 Billion KRW, Down 28% Year-on-Year
On May 15, Pulmuone announced in a regulatory filing that its consolidated operating profit for the first quarter of this year was provisionally tallied at 11.3 billion KRW, a decrease of 28.1% compared to the same period last year.
Sales increased by 3.1% to 793.5 billion KRW, but the company posted a net loss of 3 billion KRW, turning to a deficit.
The company attributed the weak first-quarter performance to the deterioration of the global economy.
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Additionally, the company explained that while sales in China increased due to the expansion of membership-based channels and the popularity of tofu and noodle products, sales in the United States were sluggish due to a slowdown in consumer demand and increased costs resulting from aging factories.
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