Noroo Paint & Coatings reported revenue of 224.4 billion won and an operating profit of 14 billion won for the second quarter of this year. The performance declined due to weakened demand for paint resulting from a slump in the domestic construction market.
Noroo Paint & Coatings announced on the 14th that its consolidated revenue for the second quarter of this year was 224.4 billion won, and its operating profit was 14 billion won. This represents a decrease of 2.3% and 24.6%, respectively, compared to the same period last year.
A representative from Noroo Paint & Coatings noted, "The domestic construction market continues to be depressed due to interest burden, delayed sales, and reduced infrastructure investment," adding, "As a result, the paint industry is also facing difficulties with weakened demand for new dwellings and intensified competition in the repainting market." However, he said, "We will create a sustainable growth structure that is not shaken by fluctuations in the construction and manufacturing industries through technological innovation and market diversification."