Daesang said in a filing on the 15th that operating profit under consolidation for the first quarter rose 0.4% from a year earlier to 57 billion won. Sales in the same period fell 1.8% to 1.1099 trillion won.
Daesang said growth in the food business institutional sector, driven by strong sales of health and fresh foods and the expansion of global operations, supported results. In particular, thanks to lower materials and supplies costs and efforts to streamline processing expenses, operating profit in the food business improved.
By contrast, the materials business institutional sector underperformed due to weaker demand amid the economic downturn.
Daesang plans to secure a competitive edge in the materials business through future manufacturing rebalancing and enhancements in core technological capabilities. In particular, it plans to strengthen competitiveness in the global food business by developing new products targeting overseas local markets and systematizing its brands.
A Daesang official said, "We will focus on strengthening sales around our 'cash cow' products and make every effort to secure profitability by optimizing the 'value chain.'"