YG PLUS Reports Operating Profit of 6.1 Billion KRW Last Year, Up 35.6% YoY

[Asia Economy Reporter Seongpil Jo] YG PLUS, a subsidiary of YG Entertainment, announced on the 24th that its operating profit on a consolidated basis last year was 6.1 billion KRW, an increase of 35.6% compared to the previous year.

Sales revenue was 107.1 billion KRW, a decrease of 5.7%. The net loss for the period widened to 7.46 million KRW.

The company stated, "Operating profit increased due to growth in core businesses such as the music business and increased investment gains," and added, "Net loss for the period increased due to the reflection of discontinued operations losses (cosmetics), among other factors."