Noru Paint Reports Operating Profit of 27.2 Billion KRW in H1, Up 14.1% YoY

Noru Paint announced on the 14th that it recorded sales of 229.9 billion KRW and an operating profit of 18.3 billion KRW in the second quarter. These figures represent increases of 2% and 0.4%, respectively, compared to the same period last year.

As of the first half of this year, sales reached 402.4 billion KRW, up 2.2% year-on-year, and operating profit rose 14.1% to 27.2 billion KRW.

Manual application of 'Urea for Handwork' on the rooftop by Noroo Paint. (Photo by Noroo Paint)

Noru Paint stated that although new construction demand declined due to the downturn in the construction industry, this was offset by a relatively growing construction maintenance market, such as apartment repainting. In particular, the company noted that sales of waterproofing materials and heat-reflective paints increased due to frequent heatwaves and heavy rains this year.

Apartment repainting involves applying new paint to improve the environment, covering everything from the exterior walls of apartments to interiors, underground parking lots, waterproofing, and floors. Noru Paint expanded its market share in the metropolitan area through new apartment repainting services.

The ongoing trend since last year of using eco-friendly materials in the B2B market also had a positive effect. Noru Paint secured competitiveness in the B2B market by establishing a lineup of eco-friendly products such as bio paints and recycled anti-corrosion paints.

A Noru Paint representative said, “As the maintenance market is expected to become active from September when the weather warms up, we plan to focus on securing competitiveness through differentiated services.”