Sales Reach 135.2 Billion Won
Chicken Sales Rise Driven by Consumption Coupons and Other Factors
Kyochon F&B recorded strong results in the third quarter of this year, driven by increased chicken sales.
On November 12, Kyochon F&B announced that its consolidated sales for the third quarter reached 135.2 billion won, up 6.0% from the same period last year. During the same period, operating profit rose by 47.2% to 11.3 billion won.
Kyochon F&B analyzed that the increase in sales was driven by improved consumer sentiment, such as the issuance of livelihood recovery consumption coupons under the government's consumption-boosting policies, as well as higher chicken sales during the summer peak season, the Chicken & Beer Festival, and sports marketing campaigns. The company also explained that the launch of new products, including Mala Red and Honey Garlic, and strong performance in new business areas such as sauces, buckwheat noodles, and craft beer contributed to the rise in sales. Operating profit showed double-digit growth due to the base effect from one-off costs incurred last year when franchise regional headquarters were converted to direct management.
A Kyochon F&B representative stated, "In the fourth quarter, we expect to maintain solid growth, supported by the K-Chicken boom generated during the APEC Summit, the year-end peak season, and the successful establishment of new brands such as Buckwheat Noodles and Sosit."
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