Quarterly sales hit record 777.9 billion won

[Provided by Kurly]
[Provided by Kurly]

Kurly disclosed Tuesday that its consolidated operating profit for the third quarter of this year reached 10 billion won ($7.38 million), up 63.5% from the same period last year. The result marks seven consecutive quarters of profitability, stretching back to the first quarter of last year.

Consolidated sales for the third quarter rose 34.4% to 777.9 billion won, a record high for any single quarter. Net profit for the period came in at 6.1 billion won.

Total transaction volume grew 32.1% to 1.15 trillion won. Transaction volume on Market Kurly climbed 32.8%, driven by stronger sales of chef-collaboration products and ready-to-eat meals. Beauty Kurly's transaction volume rose 25%, buoyed by an expansion of emerging brands and growing demand for functional products. Transaction volume for seller-fulfilled deliveries increased 32.6%.

Kurly N Mart — launched in September last year — saw its monthly transaction volume increase tenfold and its Naver Fulfillment Alliance volume grow 21-fold within a year of launch.

Selling, general and administrative expenses as a share of sales improved by 2.1 percentage points compared with the same period a year earlier. Cash and cash equivalents at the end of the third quarter stood at 413.9 billion won, up 85.4% year on year.

"Solid growth in our core businesses, combined with results from new ventures, allowed us to achieve record quarterly sales while also strengthening our fundamentals," said Kim Jong-hun, Kurly's chief financial officer.


andy@heraldcorp.com