The stock price of food and beverage corporation Orion is strong in early trading on the 18th. This surge is interpreted as influx of buying following news that Orion recorded good performance across all regions last month.
At 9:35 a.m. on the same day, Orion is trading at 103,500 won, up 3,700 won (3.71%) from the previous trading day. The previous day, Orion disclosed its preliminary operating results for November. The combined sales and operating profit of Orion’s four main corporations for November were 283.3 billion won and 56.8 billion won, respectively, marking increases of 12.6% and 15.4% compared to the previous year.
Research centers in the securities industry assessed Orion's performance as favorable. Yu Byeong-hoon, a researcher at NH Investment & Securities, noted, “The recovery of sales at the Chinese corporation is gaining momentum due to the launch of planned products for the Lunar New Year,” adding that “it is also positive that all major overseas corporations, including those in Vietnam and Russia, continue to see double-digit sales growth.”
Cho Sang-hoon, a researcher at Shinhan Investment & Securities, stated, “Although overall cost burdens have persisted, operating profits have increased across all regions due to the recovery in sales,” and he expected that “starting in the fourth quarter, sales growth and stock price recovery can be anticipated through enhanced product and channel competitiveness.”