Pulmuone Q3 Operating Profit Falls 89.6% on "Cost Pressures"

Third-quarter revenue rose 3% to 915.1 billion won
"Pursuing company-wide management efficiency"

Pulmuone announced on November 13 that its consolidated operating profit for the third quarter of this year (July-September) was 4 billion won, down 89.6% from the same period last year, due in part to higher raw and subsidiary material costs. Revenue for the third quarter rose 3% year over year to 915.1 billion won.

Pulmuone said profitability in its domestic business weakened due to higher raw and subsidiary material costs and one-off expenses related to workforce restructuring to improve efficiency. It added that despite growth in scale, profitability improvements in its overseas business fell short of expectations.

On a consolidated basis, revenue for the first nine months of the year rose 5.5% year over year to 2.6591 trillion won, while operating profit fell 30.9% to 47.6 billion won.

By segment, cumulative third-quarter revenue for the Domestic Food Manufacturing and Distribution segment was 1.2152 trillion won, accounting for 45.7% of the total, while the Food Service Distribution segment posted revenue of 783.3 billion won. The Overseas Food Manufacturing and Distribution segment recorded revenue of 579.9 billion won.

A Pulmuone official said, "We plan to pursue company-wide management efficiency initiatives, including improving operational efficiency and the profitability of our overseas business, to secure a foundation for stable growth and strengthen our focus on profitability."

This content was produced with the assistance of AI translation services.