Kukdong's Q1 'Surprise Performance'... 64.1% Increase Compared to Previous Year

[Asia Economy Reporter Hyungsoo Park] Kukdong achieved strong performance in the first quarter of this year. Despite adverse industry conditions such as rising raw material prices and increased shipping costs, the company steadily secured orders, resulting in increased sales. Profitability also improved due to enhanced productivity at overseas subsidiaries.

On the 13th, Kukdong announced that its consolidated sales for the first quarter reached 70.6 billion KRW, a 64.1% increase compared to the same period last year. Operating profit was 1.5 billion KRW, up 126.2% from the previous quarter. Net profit turned positive to 1.2 billion KRW compared to the previous quarter.

A Kukdong official stated, "Order volumes from major clients such as Carhartt, Nike, VF, H&M, and Fanatics increased," adding, "The investments made in overseas factories in 2020 and 2021 have shown results, leading to strong performance even in the relatively off-season first quarter."