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[Alpha Biz=(Chicago) Reporter Paul Lee] Nongshim posted positive results in the third quarter of this year as its overseas business continued to grow.
Nongshim announced on the 14th that it recorded consolidated sales of 855.9 billion won and operating profit of 55.7 billion won in the third quarter. This is an increase of 5.3% and 103.9%, respectively, compared to the same period last year.
Growth of overseas subsidiaries led the third-quarter earnings. The operating profit of overseas corporations such as the U.S. and China is about 20 billion won, and by adding export profits of domestic corporations, they earned more than half of their operating profit from overseas.
In Korea, new products such as ramen and snacks affected positive performance in the third quarter. Sales of new products amounted to about 20 billion won, accounting for about half of the year-on-year increase of 42.9 billion won.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
