Sempio Foods Reports Operating Profit of 23.5 Billion KRW Last Year, Down 45.1% YoY

[Asia Economy Reporter Eunmo Koo] Sempio Foods announced on the 10th that its consolidated operating profit for last year was tentatively estimated at 23.5 billion KRW, a 45.1% decrease compared to the previous year.

During the same period, sales increased by 9.3% year-on-year to 348.7 billion KRW. Net profit for the period was 23.2 billion KRW, down 35.5% from the previous year.

A representative from Sempio Foods explained, "Raw material prices and manufacturing expenses increased," adding, "Operating costs such as advertising expenses, sales promotion expenses, and transportation costs rose, leading to a decrease in profit."