Binggrae(005180) said on Aug. 14 that its second-quarter operating profit on a consolidation basis rose 159.9% from a year earlier to 69.7 billion won. Revenue for the same period increased 7.9% to 442.1 billion won.
A Binggrae official said, "Despite the continued slump in domestic consumption, revenue increased thanks to higher frozen product sales due to the heat and strong exports to the United States, China, Australia and other markets."
The official added, "Although geopolitical uncertainty pushed up costs such as raw material prices and exchange rates, operating profit increased as we continued companywide efforts to improve the bottom line, including streamlining operations following the merger with Haitai Ice Cream Co., managing low-margin products, and promoting cost efficiency across selling, general and administrative expenses."