Ottogi Q1 Operating Profit 73.2 Billion KRW... Up 12% YoY

Sales reach 883.5 billion KRW... 3.1% increase
"Exports rise centered on convenience foods and ramen"

Ottogi achieved a double-digit increase in operating profit in the first quarter of this year, driven by domestic convenience food sales and overseas ramen exports growth.

On the 16th, Ottogi announced that its consolidated operating profit for the first quarter reached 73.2 billion KRW, an 11.9% increase compared to the same period last year.

During the same period, sales rose 3.1% to 883.5 billion KRW.

Due to the impact of high inflation, demand for home-cooked meals increased, boosting convenience food sales. Additionally, overseas sales, which were still lagging behind competitors Nongshim and Samyang Foods, grew by 15%, mainly driven by ramen, leading the overall performance.

An Ottogi representative explained, "There are no particular issues regarding expenses such as selling and administrative costs, and they are similar to last year's level."