BGF Retail Reports Operating Profit of 259.3 Billion KRW Last Year, Up 30% YoY (Comprehensive)

BGF Retail announced on the 9th that its consolidated operating profit for last year was tentatively estimated at 259.3 billion KRW, a 30% increase compared to the previous year.

Sales reached 7.6158 trillion KRW, up 12.3% year-on-year. Net profit increased by 34.7% to 198.8 billion KRW.

Operating profit for the fourth quarter was 59.2 billion KRW, a 19.4% increase compared to the same period last year. Sales and net profit were 1.9493 trillion KRW and 46.1 billion KRW, respectively.

BGF Retail explained, "Despite the record cold wave in December last year and a high base in the same period of the previous year, the World Cup event effect and differentiated products and brand competitiveness expanded the sales composition ratio of food and processed food categories."

BGF Retail's core strategy for this year is to expand a one-stop online and offline shopping ecosystem for customers. The focus will be on strengthening store competitiveness through product differentiation and expanding online services for offline stores.