Orion records highest operating profit of W327b in 2019

Korean confectionary firm Orion said Wednesday it recorded operating profit of 327.3 billion won ($275.9 million) in 2019, marking the highest figure in company history.

According to the company, it saw its net profit increase 54.1 percent on-year to post 220.3 billion won, and its annual revenue hit 2.02 trillion won, up 5 percent from the year before.

The company’s operating profit in the fourth quarter last year was 97.8 billion won, up 39.2 percent in the same period on-year, and the revenue and net profit marked 556.4 billion won and 61 billion won, respectively.

Newly released snack products and others that were relaunched, such as Chicken Pop, contributed to the increase in sales, the company said.

Orion’s Chinese corporate body saw its sales and operating profit increase by 3.3 percent and 12 percent, respectively, and the operating margin surpassed 16 percent.

The corporate body in Vietnam also saw its sales and operating profit go up by 7.9 percent and 16.5 percent, respectively, to achieve its best performance. 

By Jo He-rim (herim@heraldcorp.com)