[Asia Economy Reporter Lim Chun-han] Cheil Worldwide announced on the 29th that its consolidated operating profit for the first quarter of this year was tentatively estimated at 41 billion KRW, a 34.23% increase compared to the same period last year.
Sales increased by 2.27% year-on-year to 696.7 billion KRW, and net profit rose by 31.09% to 32.9 billion KRW.
Cheil Worldwide explained, "We achieved high growth due to the effect of major advertisers' new product launches and simultaneous growth in non-affiliated volume," adding, "Our consolidated subsidiaries led growth in the digital sector, and overall recovery continued with strong performance centered in North America, China, and Southeast Asia."
The proportion of overseas business in gross profit by region increased from 72% last year to 76% in the first quarter of this year. In particular, North American sales increased by 28% year-on-year, and double-digit growth rates were recorded in China (23%) and Southeast Asia (12%) as well.
The digital business proportion rose from 43% last year to 48% in the first quarter of this year. Additionally, the proportion of advertisers other than Samsung decreased from 28% last year to 27% in the first quarter of this year.
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