Pulmuone said on the 14th that operating profit under consolidation for the third quarter came to 38.1 billion won, up 14.4% from a year earlier.
Sales for the same period rose 6.5% to 888.4 billion won. Quarterly net profit increased 44.6% to 21.7 billion won.
Cumulative third-quarter sales were 2.521 trillion won and operating profit was 68.9 billion won, achieving all-time high sales and operating profit on both a third-quarter standalone and cumulative basis.
By region, the domestic business drove sales and operating profit growth through the launch effect of new products in the food manufacturing and distribution business and the stabilization of new business sites in the food service and distribution business, Pulmuone said. The overseas food manufacturing and distribution business achieved sales expansion and operating profit improvement thanks to new tofu sales at the U.S. subsidiary and continued stable growth in the membership channel at the China subsidiary.
By segment, the domestic food manufacturing and distribution segment posted sales of 425.4 billion won, up 5.5% from a year earlier, and operating profit of 28.8 billion won, up 16.7% from a year earlier.
The B2C (business-to-consumer) business led the segment's performance by expanding sales and increasing profitability through plant-based innovation products and the launch of new ambient and HMR (home meal replacement) products, while the B2B (business-to-business) business also contributed to segment sales growth through stable growth in existing core channels such as daycare centers and schools and the strategic expansion of new channels.
The food service and distribution segment recorded third-quarter sales of 261 billion won, up 8.5% from a year earlier, and operating profit of 14.8 billion won, up 42.2% from a year earlier. Pulmuone noted that higher sales from group catering centered on industrial sites and the activation of airport channels in the concession and rest area business contributed to the results.
The overseas food manufacturing and distribution segment posted segment sales of 172.7 billion won, up 5.6% from a year earlier, as key categories in the United States and China led performance. The U.S. subsidiary grew sales 5.9% from a year earlier by laying the groundwork for steady top-line expansion through new B2B supplies to a local chef restaurant group in the noodle category.
The China subsidiary saw sales rise 23.7% from a year earlier as growth in membership channels continued and the frozen category, including frozen gimbap, and the noodle category posted high growth.
A Pulmuone official said, "In the fourth quarter, we expect the effects of new products in the food manufacturing and distribution segment and stable growth in the food service and distribution segment to continue," and added, "The overseas food manufacturing and distribution segment will continue to grow, leveraging new sales channels secured by the U.S. subsidiary and the expansion of the K-food frozen lineup at the China subsidiary."