CJ Reports 535 Billion KRW Operating Profit in Q1, Down 7.1% Year-on-Year

CJ announced on the 15th that its consolidated operating profit for the first quarter was provisionally tallied at 535 billion KRW, a decrease of 7.1% compared to the same period last year.

Sales increased by 1.6% to 10.6004 trillion KRW, but net profit for the period decreased by 9.5% to 136.4 billion KRW.

A CJ representative explained that the decline in operating profit was due to the contraction of the domestic market, which partially affected the group's main businesses such as food and logistics.

The company plans to focus on improving profitability in each business sector in the second quarter of this year.