Achieved record-high sales and operating profit last year
Strong overseas exports… 120% jump in US sales
Samyang Foods achieved new records in sales and operating profits last year along with the increase in exports with the’buldak series’. Photo = Provided by Samyang Food
Samyang Food(93,100 +0.43%)Along with the increase in exports that promoted this’buldak series’, it achieved new records in sales and operating profit last year.
Samyang Foods announced on the 19th that last year’s consolidated sales increased 19.3% year-on-year to KRW 6485 billion. During the same period, operating profit also increased by 21.9% to 95.3 billion won.
Both sales and operating profit are all-time highs. It is explained that the overseas distribution network strengthening strategy, the expansion of major export products, and the increase in ramen demand due to the novel coronavirus infection (Corona 19) led to domestic and overseas sales, and the performance expanded.
Samyang Foods achieved new records in sales and operating profits last year along with the increase in exports with the’buldak series’. Photo = Hankyung DB
Last year, overseas sales increased 35.8% to 3703 billion won. It exceeded 300 billion won for the first time, accounting for 57.1% of the total sales. In China and Southeast Asia, the largest export regions, sales increased by 20% and 18%, respectively, compared to the previous year. In the US, it jumped 120%.
An official at Samyang Food said, “Exports, which require less sales and management costs compared to domestic demand, have increased the share of total sales, and operating profit has improved.” It recorded 14.7%, exceeding the food industry average.”
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