LOTTE Wellfood disclosed that its third-quarter operating profit on a consolidation basis was tentatively tallied at 69.3 billion won. That was down 8.9% from a year earlier.
According to the Financial Supervisory Service's DART filing system on the 4th, LOTTE Wellfood's third-quarter revenue was 1.1568 trillion won, up 7.3% from a year earlier. Net profit for the period was 49.9 billion won. That figure was up 8.2% from a year earlier.
According to LOTTE Wellfood, one-off expenses such as voluntary retirement were reflected in the third-quarter results. Excluding the related expense of 11.1 billion won, operating profit was 80.3 billion won. That was up 5.6% from a year earlier.
A LOTTE Wellfood official said, "As sales of confectionery and ice cream recovered and held steady, list prices increased, and revenue also grew on stronger bakery sales. In particular, the overall business expanded with increased exports of products such as Pepero and canned ham," adding, "Although profitability decreased from a year earlier due to one-off expense burdens, the actual business performance is showing a clear improvement compared with the first half. Business improvement will become more pronounced after the fourth quarter."