Binggrae disclosed that it posted 13.7 billion won in operating profit on a consolidation basis in the first quarter of this year. That was up 2.3% from a year earlier. Revenue for the same period rose 1.3% to 312.4 billion won.
A Binggrae official said, "As the slowdown in the domestic market continues, revenue rose slightly from a year earlier as overseas exports to the United States, China and Vietnam increased," and noted, "Despite short-term expense items such as higher labor costs from the merger with Haitai Ice Cream Co. and continued cost pressures, operating profit increased from a year earlier thanks to management efficiency gains and higher overseas profit."
Binggrae is targeting overseas markets with its flagship products, including "Melona" and "Banana Flavored Milk."