Noroo Paint posted 7.93226 billion won in operating profit on a consolidation basis in the first quarter.
Noroo Paint disclosed on the 15th that first-quarter results on a consolidation basis came to 176.23183 billion won in revenue and 7.93226 billion won in operating profit. The figures rose 2.39% and 70.03%, respectively, from a year earlier.
Net profit was 6.87948 billion won, more than double the first quarter of last year.
A Noroo Paint official said, "The first-quarter results were not a change driven by a single factor but the outcome of multiple elements working together, including changes in product mix by business, companywide expense control, and operational efficiency." The official added, "However, there are also concerns about an 'inverse lag' phase in which cost burdens expand with a time lag if the impact of high-priced raw materials now being reflected becomes full-fledged."
The official went on to say, "We are focusing on maintaining supply-demand stability and operational efficiency by diversifying sourcing of naphtha-based raw materials and strengthening inventory management," adding, "We plan to respond cautiously by closely monitoring market conditions."