CJ CheilJedang posts weaker Q1 profit as sales slip, net turns positive

CJ CheilJedang said on the 12th that first-quarter sales on a consolidation basis were 7.1111 trillion won, down 1.4% from a year earlier. Operating profit fell 28.5% in the same period to 238.1 billion won. Net profit turned to a surplus at 119.8 billion won.

Excluding Daehan Tongun, sales were 4.0271 trillion won, with operating profit of 148.5 billion won. Sales rose 4.3% from a year earlier, but operating profit fell 26%.