CJ CheilJedang reports third quarter net of 225.8 billion won

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CJ CheilJedang reports third quarter net of 225.8 billion won

Published: 14 Nov. 2022, 16:38 Updated: 14 Nov. 2022, 18:17

CJ CheilJedang reported a net profit of 225.8 billion won ($170.6 million) in the third quarter, up 6.9 percent on year.

The figure beat analyst expectations of a 206.7 billion won net profit compiled on FnGuide.

It logged revenue of 8.01 trillion won, up 16.9 percent on year. The figure also surpassed a 7.8-trillion-won revenue estimate compiled by analysts.

The earnings incorporate those of CJ Logistics, 40.16 percent owned by the food company. The logistics company’s net profit rose 52.2 percent on year to 60.2 billion won, with revenue rising 9.4 percent on year to 3.1 trillion won.

Sales from CJ CheilJedang’s food division rose 18.4 percent on year to 2.6 trillion won, helped by rising sales of its Bibigo-brand products abroad. Its bio division’s sales rose 25.4 percent on year to 1.04 trillion won.

BY LEE TAE-HEE [[email protected]]