Samyang Foods Posts Record Third-Quarter Sales and Profit
Samyang Foods achieved its highest-ever quarterly performance, recording 791.8 billion won (about $584 million) in consolidated sales and 196.2 billion won in operating profit in the third quarter of this year, driven by the expanding sales of the Buldak brand in the United States and Europe. Photo
Samyang Foods reported its highest quarterly sales and operating profit, reaching 791.8 billion won ($584 million) and 196.2 billion won, respectively, in the third quarter of the year. The growth was primarily driven by Buldak brand sales in the United States and Europe, which increased by 29.4% compared to the same period last year.
Operating profit rose by nearly 50% compared to the same quarter a year ago. However, valuations losses on foreign currency assets and rising costs resulted in lower net income than operating profit.
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