Korean ramyeon giant Nongshim posts first loss at home in 24 years
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
Nongshim said Wednesday that it incurred 3.0 billion won ($2.3 million) loss from operations in Korea during the April-June period, marking a sharp turnaround from 7.3 billion won operating profit posted a year ago. It is the first time for the instant noodles giant to log operating loss in the local Korean market since the second quarter of 1998 when the Korean currency depreciated sharply during the Asian financial crisis.
Domestic sales rose 15.6 percent on year to 584.5 billion won in the same quarter.
The operating loss of its domestic business was largely due to a surge in the price of raw materials. The purchasing price of wheat flour climbed 46.6 percent and palm oil 52.8 percent in the first half of the year versus a year earlier, according to Nongshim.
To compensate for the soaring materials costs, Nongshim raised the price of its ramyeon products by 6.8 percent in August. It was its first price increase in four years and 8 months but the hike was not enough to cover the skyrocketing flour and palm oil prices.
On a consolidated basis, which includes earnings from operations outside Korea, Nongshim reported an operating income of 4.3 billion won for the second quarter, down 75.4 percent compared to a year ago due to the massive loss from its domestic operation. Sales added 16.7 percent on year to 756.2 billion won.
From January to June, Nongshim generated 38.6 billion won in operating income and 1.5 billion won in sales on a consolidated basis. Income fell 15.4 percent on year although sales expanded by 16.4 percent.
Nongshim shares lost 2.7 percent to 291,500 won on Wednesday afternoon.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- Seoul Milk’s potential financial support for farmers may lead to milk price hike - Pulse by Maeil Business News Korea
- FKI calls for revising Korea’s inheritance tax system - Pulse by Maeil Business News Korea
- KT to merge TV operating subsidies to groom ENA as top pay TV brand - Pulse by Maeil Business News Korea
- Korean ramyeon giant Nongshim posts first loss at home in 24 years - Pulse by Maeil Business News Korea
- Shinwon reports upbeat Q2 earnings led by brisk exports, online sales - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- AI가 실시간으로 가격도 바꾼다…아마존·우버 성공 뒤엔 ‘다이내믹 프라이싱’
- 서예지, 12월 29일 데뷔 11년 만에 첫 단독 팬미팅 개최 [공식] - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이