Pulmuone Q1 Sales Hit 850.4 Billion Won as Overseas Turnaround Lifts Profit

Pulmuone disclosed in its quarterly report on May 15 that first-quarter sales reached 850.4 billion won and operating profit came to 19 billion won. Sales rose 7.2% from a year earlier, while operating profit increased 68.9%, marking the company’s best first-quarter performance. In Korea, the foodservice distribution business led overall growth through new business rights and better operating efficiency. Sales in the segment, which includes contract catering and concessions, rose 10.6% to 254 billion won, helped by new key clients such as offices and military units and a recovery at airport and highway rest-stop outlets. Overseas, rebounds at the U.S. and China units and reduced losses in Japan supported profit growth. The U.S. unit has posted profits for three consecutive quarters since turning profitable in the second half of last year. Source: rss.donga.com