LOTTE Wellfood announced on the 6th that its consolidated revenue for last year reached 4.04 trillion won. This represents a decline of 0.5% compared to the previous year. Operating profit fell by 11.3% to 157.1 billion won. However, net profit saw a 21.0% increase to 81.98 billion won.
LOTTE Wellfood noted, "Operating profit decreased due to rising materials and supplies prices, while net profit increased due to a reduction in corporate tax expenses."
To defend revenue, LOTTE Wellfood plans to increase the prices of 26 types of baked and frozen products, including Pepero and World Cone, by an average of 9.5% starting on the 17th due to rising materials and supplies costs.
A LOTTE Wellfood official said, "We also plan to increase the prices of products sold by overseas subsidiaries due to the rise in Kakao prices," adding that the company will continue to diversify its business portfolio by reducing the proportion of chocolate products.