CJ CheilJedang reports double-digit profit growth on overseas food sales

By Kim Dong-young Posted : August 13, 2024, 14:30 Updated : August 13, 2024, 14:30
Customers line up to receive food at CJ CheilJedang's Bibigo Sijang (market) in Paris, open from July 25 to August 11, 2024. Courtesy of CJ CheilJedang
SEOUL, August 13 (AJU PRESS) - Korean food and bio company CJ CheilJedang announced on Tuesday that its second-quarter operating profit rose 14.1 percent year-on-year to 269 billion won ($196 million), marking the third consecutive quarter of profit growth.

Sales increased 0.3 percent to  7.239 trillion won, while net income increased 16 percent to 147.8 billion won.

The company's overseas food business showed strong performance, with sales in Europe surging 57 percent as it expanded its presence in major retail channels across Western European countries. In North America, global strategic products like dumplings and shelf-stable rice saw steady growth.

CJ CheilJedang's bio business recorded a 17.4 percent increase in operating profit to 99 billion won, driven by higher sales of high-value-added products such as tryptophan, an essential amino acid, and other specialty amino acids.

"We will focus on expanding new territories for K-food with our global strategic products while accelerating qualitative growth through improved management efficiency," a company official said.

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