Lotte Confectionery’s sales increase 5.8% in first half

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Lotte Confectionery’s sales increase 5.8% in first half

Lotte Confectionery’s overseas sales grew 5.8 percent year on year to 284.1 billion won ($252.9 million) during this year’s first half, the company said Wednesday, despite revenue from China sinking by half in the aftermath of a consumer boycott sparked by a diplomatic row.

Operating profit was 16 billion won, a 38.9 percent jump from last year. The results were a combination of revenue generated from Lotte Confectionery’s eight overseas corporations across Europe and Asia.

Sales in each foreign market all rose compared to 2016 except in China, where revenue was cut in half to 19.4 billion won this year.

The biggest uplift year on year came from Kazakhstan and Pakistan.

The Kazakhstani market generated 94.6 billion won in sales, a 30.7 percent increase from 2016. Pakistan generated 54.3 billion worth of sales, a 10 percent rise year on year.

By Song Kyoung-son

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