Sempio Foods Reports 34% Drop in Operating Profit Last Year... "Increase in Advertising Costs and Others"

Sales Reach 404.92 Billion KRW
...Up 5.6 Percent

Sempio Foods received a disappointing report card last year due to increased operating expenses such as advertising costs.

Sempio Foods announced on the 7th that its consolidated operating profit for last year was tentatively estimated at 6.46066 billion KRW, down 34.4% compared to the previous year. During the same period, sales increased by 5.6% to 404.92296 billion KRW.

Yonhap News

A representative from Sempio Foods explained, "Operating profit decreased due to increased operating expenses such as advertising costs to successfully establish new brands," adding, "However, this is a strategic investment to strengthen brand awareness and expand market competitiveness, which is expected to have a positive impact on sales growth in the long term."