CJ CheilJedang Q2 net rises 16% on food, high-end products

South Korean food company CJ CheilJedang Corp. said Tuesday its second-quarter net profit rose 16 percent from a year earlier on increased sales of food and high-end products.

Net profit for the three months to June rose to 147.82 billion won ($108 million) from 127.46 billion won during the same period of last year, the company said in a statement.

"Strong overseas sales of dumpling products under CJ's Bibigo brand and other food products buoyed the quarterly results. And increased sales of high-end amino acid for livestock helped," the statement said.

The bottomline also got a boost from increased equity gains from its wholly owned livestock feed company CJ Feed&Care, which focuses on businesses in Southeast Asia, it said.

Operating profit climbed 11 percent to 383.56 billion won in the June quarter from 344.56 billion won a year ago. Sales were up 0.3 percent to 7.24 trillion won from 7.22 trillion won during the cited period.

From January to June, net income surged 71 percent to 302.45 billion won from 176.77 billion won in the year-ago period.

Operating profit jumped 27 percent to 759.5 billion won in the first half from 597.34 billion won a year earlier. Sales rose 1.1 percent to 14.45 trillion won from 14.29 trillion won.

CJ CheilJedang has business entities in the United States, Britain, France, Australia, Japan, China and Thailand, among others. (Yonhap)