KYOCHON F&B announced on the 14th that its consolidated operating profit for the first quarter was 10.4% lower than the same period last year, recording 10.7 billion won. Revenue totaled 124.6 billion won, up 10% from the same period last year.
KYOCHON F&B explained that chicken sales increased as demand showed signs of recovery thanks to the effect of new menu items such as the Wing Series and KYOCHON seasoned chicken.
However, it noted that labor costs and logistics costs (transportation fees) increased due to the transition of the franchise area headquarters to direct management, and advertising expenses also increased due to the execution of new menu promotions, resulting in a decline in operating profit.
A spokesperson for KYOCHON F&B said, "Despite the fact that the first quarter is considered an off-season for the chicken franchise industry, consumer demand has steadily shown signs of recovery, leading to increased sales. We will continue to strive to achieve steady revenue growth in line with our business goals this year."