Samlip(005610) said on Aug. 14 that operating profit on a consolidation basis for the second quarter of this year was 110 million won, down 98.7% from a year earlier. Revenue for the same period rose 2.9% to 847.8 billion won.
First-half revenue on a consolidation basis this year was 1.6601 trillion won, up 1.3% from a year earlier. The operating loss was 4.2 billion won, swinging from an operating profit of 24.8 billion won in the first half of last year.
The swing to a loss in the food business due to higher cost burdens and the deterioration in profitability in the bakery and distribution businesses appear to have had an impact.
In the first half, the food division posted an operating loss of 9.4 billion won, and operating profit in the bakery division was 2.3 billion won, down 86.9% from a year earlier.
However, the bakery division turned to a profit in the second quarter from an operating loss in the first quarter, and the net loss for the period also narrowed, showing signs of recovery. The net loss for the second quarter was 3.1 billion won, down 69.1% from the first quarter.