OTOKI said on Feb. 9 that operating profit under consolidation last year was 177.3 billion won, down 20.2% from a year earlier. During the same period, sales rose 3.8% to 3.6745 trillion won.
OTOKI said, "Cost of sales increased due to higher exchange rates and rising prices of raw and subsidiary materials, and operating profit fell as labor costs and advertising and promotion expenses increased." While results in the domestic market were sluggish due to a contraction in the home market, last year's overseas sales grew 13.4% from a year earlier. The share of overseas sales also rose 1.0% year over year to 11.2%.
An OTOKI official said, "We plan to continue sales activities focused on the global market and work to improve profitability."
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