Nongshim Reports Operating Profit of 163.1 Billion KRW Last Year, Down 23.1% YoY

Sales Rise 0.8% to 3.4387 Trillion KRW

Nongshim announced on the 12th that its consolidated operating profit for last year was tentatively estimated at 163.1 billion KRW, a 23.1% decrease compared to the previous year.

Sales increased by 0.8% to 3.4387 trillion KRW, while net profit for the period decreased by 8.1% to 157.6 billion KRW.

Nongshim

A Nongshim representative explained, "Although sales slightly increased, operating profit declined due to increased cost burdens from expanded promotional expenses caused by sluggish domestic market consumption and rising raw material costs due to exchange rate increases."