CJ Freshway disclosed that its operating profit on a consolidation basis for the third quarter this year was 33.6 billion won, based on a preliminary tally. That was up 19.3% from a year earlier.
According to the Financial Supervisory Service's electronic disclosure system on the 6th, CJ Freshway's third-quarter revenue was 901.2 billion won, up 8.3%% from a year earlier. Net income for the same period turned to a profit at 23.3 billion won.
CJ Freshway said this was the result of achieving quantitative and qualitative growth across the food material distribution and food service businesses at the same time. In fact, revenue in the distribution business (restaurant ingredients and food raw materials) was 390.4 billion won, and revenue in the food service business (meal service ingredients and food service) reached 504 billion won.
In particular, entry into new markets such as military meal service increased the transaction scale of meal service ingredients. The food service institutional sector improved profitability with more orders, and growth continued with the opening of new concession stores such as airport food courts.
CJ Freshway plans to lead the future meal service market based on a kitchenless strategy. Kitchenless is a business model that reduces kitchen work and improves operational efficiency with a de-kitchen system such as a ready-meal corner and cooking-efficiency products such as preprocessed ingredients.
Chief Financial Officer Im Seong-cheol of CJ Freshway said, "By connecting online and offline and through the kitchenless strategy, we are driving joint growth online and offline," and added, "Based on the advancement of our business structure, we will strengthen future growth engines and continuously secure balanced performance in profitability and growth."