Hyungji Elite(093240) disclosed on the 24th that, on a consolidation basis from July last year to June this year, it posted revenue of 177.8 billion won and operating profit of 8.4 billion won. That was up 7% and 27%, respectively, from a year earlier.
Hyungji Elite, which closes its books in June, said overall profitability improved as key businesses such as sports merchandising performed well. With the disappearance of one-off losses that had been reflected due to a temporary accounting valuation factor in the previous year, net profit swung to a surplus of 7.4 billion won.
Hyungji Elite, which has grown with a focus on school uniforms, is recently expanding into sports. It is expanding its sports merchandising business by planning, producing and selling various goods such as team uniforms and apparel using intellectual property (IP) from professional baseball, esports and sports entertainment.
Hyungji Elite plans to accelerate its push into domestic and overseas markets, increase mid- to long-term corporate value, and build a stable revenue base.
A Hyungji Elite official said, "As results in core areas such as the sports merchandising business materialize and management focused on fundamentals bears fruit, we achieved meaningful results with key performance indicators growing evenly," adding, "With top-line growth, improved profitability and secured financial soundness achieved at the same time, we will continue to solidify growth that meets market expectations."