Tuna Sauce and Ready Meals Boost... Dongwon F&B Q3 Operating Profit Up 6.1% YoY

Connected 기준 66.9 billion KRW
Sales 1.2203 trillion KRW... 1.1% increase
Increase in Chuseok gift set sales, etc.

Dongwon F&B increased its profitability in the third quarter of this year due to strong sales of liquid seasoning such as tuna extract and Chuseok holiday gift sets.

Dongwon F&B announced on the 1st that its consolidated operating profit for the third quarter was preliminarily estimated at 66.9 billion KRW, up 6.1% compared to the same period last year. Sales during the same period increased by 1.1% to 1.2203 trillion KRW. On a separate basis, third-quarter sales rose 1.7% year-on-year to 591.7 billion KRW, and operating profit increased 16.3% to 48.4 billion KRW.

The company explained that profitability improved as sales of tuna extract, which is increasingly used as a cooking ingredient, and Chuseok holiday gift sets including Dongwon Tuna increased, along with stable sales growth in home meal replacement (HMR) and dairy product sectors such as soup dishes and frozen foods.

Dongwon Home Food, a subsidiary of Dongwon F&B responsible for the seasoning distribution business, also contributed to the improved performance. Dongwon Home Food recorded double-digit growth in group catering and food ingredient supply businesses, and the seasoning food business saw increased domestic and international sales centered on the low-sugar, low-calorie sauce specialty brand 'Vivid Kitchen.'

A Dongwon F&B official said, "We achieved solid results through steady growth in general food sectors such as tuna extract and convenience foods, as well as the expansion of our subsidiary Dongwon Home Food." He added, "We will make bold investments to enhance the competitiveness of existing businesses through expanded research and development investment and to discover new growth engines."