[Provided by Hyundai Green Food]
[Provided by Hyundai Green Food]

Hyundai Green Food said Tuesday its second-quarter operating profit rose 23.4%, driven by new contract wins in its institutional catering business and strong performance in its dining operations.

The company's consolidated operating profit for the second quarter reached 38.1 billion won ($26.6 million), up 23.4% from the same period a year earlier, according to a regulatory filing on DART, the Financial Supervisory Service's disclosure system. Sales rose 7.8% to 595 billion won over the same period. Net profit for the period also climbed 30.7% to 30.6 billion won, based on preliminary figures.

On a non-consolidated basis, sales came in at 577.4 billion won, up 7.2% year on year, while operating profit grew 31.4% to 40.5 billion won. For the first half of the year, cumulative sales reached 1.22 trillion won, up 8.4% from a year earlier, and operating profit rose 33.9% to 84.5 billion won.

"Both sales and operating profit increased thanks to new contract wins and a growing number of meal recipients in the institutional catering segment, as well as continued strength in our care food and dining businesses," a company official said. "Operating profit in particular posted sharp growth through improvements in manufacturing costs and logistics efficiency."


korean@heraldcorp.com