Wednesday, April 19, 2017

Jeong Yongjin 'growth engine' New World food, first quarter operating profit of 624.6% ↑



There is growing faster and for a group [South Korea sinmijin financial newspaper reporter] Jeong Yongjin become a vice president of Shinsegae Food Shinsegae Group is a comprehensive food enterprise 'growth'.

Shinsegae Food has published 18 days dwaetdago provisional counted 4.816 billion won this year's first quarter consolidated operating profit increased by 624.6% YoY. Sales are increased 16% net profit was 3.5 billion won, up 436 percent.

Shinsegae Food side explained that "the increase in home sales and reduced ganpyeonsik for the labor of the negative plant stabilization, to reduce the cost of closing the deficit stores catering business will rise in operating profit."

Regarded as a main cause of Shinsegae Food grown food manufacturing business expansion. The sales of goods responsible for the growth of manufacturing neulmyeon Shinsegae Food is also the subsequent structure.

Shinsegae Food is responsible for the preparation of self-Mart (PB) products. If the assumption of constant ambitious vice ganpyeonsik 'pikokeu' is responsible for about 30% of production and manufacturing for about 5 percent of low-PB 'No-brand.

Pikokeu has achieved 190 billion won last year, starting with 2013 sales of 34 billion won. Capital goods increased significantly in the last year, 1,000 species from 200 species. Mart is holding a sales target of 300 billion won a year pikokeu.

I learned the business know-how home ganpyeonsik brand olban "last year launched the Shinsegae Food is actively sets out a plan to sell online via the open market this year.

Stabilization of audio plant in Chungbuk negative in 2015 to strengthen food manufacturers also had an impact on operating profit growth. As the external staff costs that were introduced in the early to plant operating line was reduced labor naturally.

In addition, Shinsegae Food is awarded the catering of meals, including the first quarter of this year, Korean Air Incheon, The Ritz-Carlton cafeteria, PyeongChang Olympic Village, and even went as reliably operate existing businesses.

Vice Chairman Chung is also planning to increase restaurant business under the motivation to raise a New World food company with sales of 5 trillion by 2023 target as well as food manufacturing Smoothie King, and the Devils Door, Johnny Rockets, Oslo.

Shinsegae Food said, "out of that used to rely on the past catering business had to be a great impact by drastically clean up the deficit stores closing, etc." and "home ganpyeonsik this through the 'olban' as kkophin a major factor plans to expand the business," he said .

Daily Economic News Finance FNTIMES - commercial reprint, copy, distribute prohibited purposes under the Copyright Act
Copyright ⓒ Korea's Financial News & FNTIMES.com