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[Alpha Biz= Reporter Paul Lee] |
[Alpha Biz= Reporter Paul Lee] Hanssem, the leading company in the furniture industry, has stepped down from its top spot. The position has been taken by Hyundai Livart.
Hanssem reported sales of 485.9 billion won in the (provisional) first quarter, a 3.2% decrease from the previous quarter (502 billion won). However, it showed a 3.5% increase compared to the same period last year (469.2 billion won).
Operating profit recorded 130 billion won, a 12.6% increase from the previous year (115 billion won). It turned from deficit to surplus compared to the same period last year. Net profit also succeeded in turning from deficit to surplus, recording 48.5 billion won.
Despite these improvements in profitability, Hanssem is facing a challenging situation. During the same period, its competitor, Hyundai Livart, announced sales of 504.8 billion won, marking a 20% increase from the previous quarter (420.2 billion won) and a 36.3% increase from the same period last year (370.2 billion won). With this, Hyundai Livart has surpassed Hanssem in terms of sales.
However, Hyundai Livart's operating profit in the first quarter was 67 billion won, and net profit was 46 billion won, lower than Hanssem's profitability.
While Hanssem's furniture is expensive and has higher profitability, it has shown a tendency of lower sales compared to its competitors.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
