Group Catering 'Banggeut'... Hyundai Green Food's Operating Profit Up 7.8% Last Year

Annual Sales Rise 4% to 2.2075 Trillion KRW

Hyundai Green Food received a favorable report card last year due to the strong performance of its core business, group catering services.

Hyundai Green Food announced on the 7th that it recorded provisional annual sales of 2.2075 trillion KRW and an operating profit of 88.6 billion KRW last year. This represents increases of 4.0% and 7.8%, respectively, compared to the previous year.

Hyundai Green Food

Sales in the fourth quarter of last year amounted to 552.6 billion KRW, up 2.5% year-on-year, while operating profit for the same period decreased by 33.2% to 2.1 billion KRW.

A Hyundai Green Food official explained, "Thanks to the strong performance of our core group catering business, sales and operating profit last year reached record highs. However, operating profit in the fourth quarter temporarily declined due to the estimated provision reflected following the Supreme Court ruling related to ordinary wages."