[CJ CheilJedang CI (Photo provided by CJ CheilJedang)]
CJ CheilJedang announced sales of 4.3314 trillion won and operating profit of 269 billion won for the second quarter of the year. Although sales decreased by 2% compared to the same period last year, operating profit increased by 14%.
On a consolidated basis including CJ Logistics, sales increased by 0.3% to 7.2386 trillion won, and operating profit rose by 11.3% to 383.6 billion won.
In the food business sector, sales decreased by 1% to 2.7051 trillion won, and operating profit decreased by 4.8% to 135.9 billion won.
However, excluding the Chinese subsidiary Ground Guider sold last year, the company explained that sales and operating profit grew by 1% and 2% respectively.
In particular, in the overseas food business, the company mentioned that sales grew by 57% and 51% in Europe and Oceania, respectively, as they entered major distribution channels.
While the food business struggled, the bio, feed, and livestock industries showed improved performance.
The bio sector recorded an operating profit of 990 billion won, a 17.4% increase compared to the same period last year, by expanding sales of high-margin products such as TripTopan.
CJ Feed & Care, an independent subsidiary of feed and livestock, turned a profit as operating profit increased by 288% compared to the same period last year, despite a 12% decrease in sales. The company attributed this to stable hog and livestock prices.
A CJ CheilJedang official stated, “Focusing on expanding ‘K-Food’s new territory’ through our global strategic products (GSP) and accelerating ‘qualitative growth’ through business efficiency improvement.”
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