bhc Group's Sales Reach 616.4 Billion KRW Last Year, Up 29% Year-on-Year

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[Asia Economy Reporter Moon Hyewon]bhc Group achieved sales of 616.4 billion KRW last year.

bhc Group announced on the 14th that its consolidated sales last year increased by 29% compared to the previous year, reaching 616.4 billion KRW.

Since surpassing 100 billion KRW in sales for the first time in 2014, the year after starting independent management, bhc Group has shown an upward trend, recording 400 billion KRW in 2019 and 470 billion KRW in 2020.

bhc Group operates various dining brands including bhc Chicken, the premium family restaurant 'Outback Steakhouse', the premium Korean beef specialty restaurant 'Changgo43', the sundae soup specialty restaurant 'Keunmam Halmae Sundaeguk', the beef specialty restaurant 'Gram Gram', and the high-end jokbal specialty restaurant 'Jokbalsanghoe'. Their operating profit last year was 168.1 billion KRW, representing 27% of sales, which decreased compared to the previous year.

bhc Group explained that the operating profit reflects the transparency of the company as it operates as a single independent corporation without separate subsidiaries, unlike other companies that establish subsidiaries to distribute profits.

bhc Group also stated that through management innovation, they fixed the ratio of selling and administrative expenses regardless of sales fluctuations to reduce unnecessary costs, which led most of the increased sales profit to translate into increased operating profit. Additionally, increased profit margins from partial in-house production of raw materials and logistics are differentiating factors from other brands.

Lim Geumok, CEO of bhc Group, said, “We were able to achieve continuous growth by leading with existing brands, pursuing efficient management through management innovation, customer-focused management, and quality management, and acquiring the premium family restaurant Outback.” He added, "This year, based on bhc Group’s management philosophy of customer-centric management, transparent management, and win-win management, we will steadily expand our business scope and continue co-growth with franchisees to further strengthen our position as the industry leader."

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