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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Jisun] On August 7, CJ Freshway reported its Q2 2024 financial results, with revenue of 811.3 billion won and operating profit of 30.1 billion won. Revenue increased by 4.1% year-on-year, while operating profit decreased by 6.1%. The company attributed the decline in operating profit to the downturn in the dining sector caused by reduced consumer spending, despite growth in revenue due to strong performance in food ingredient distribution and group meal services.
In terms of business segments, the food ingredient distribution division reported sales of 595.9 billion won. The "Healthy Nuri" initiative, which supplies food ingredients to senior welfare and nursing facilities, saw a 16% increase in sales compared to the previous year. The company's own brands, including △I Nuri (for infants) △Tuntun School (for youth) △Healthy Nuri (for the elderly), also showed growth.
The group meal service division achieved its highest quarterly sales, totaling 201.3 billion won, reflecting improved competitiveness through diversification into mobile catering and other areas. CJ Freshway is focusing on securing contracts for industrial and office group meals.
The manufacturing division recorded sales of 14.1 billion won. CJ Freshway's specialized manufacturing subsidiary, FreshPlus, supplies sauces and dressings to various food and dining companies. The company plans to accelerate the development of high-value-added products tailored to customer needs, capitalizing on growth in the sauce market.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
