Samsung Welstory posted higher revenue last year, but operating profit edged down as cost pressures increased.
According to a filing on the electronic disclosure system on Tuesday, the company’s operating profit totaled 153 billion won, down 2.5% from a year earlier. Its operating margin slipped to 4.7% from 5.0%, a decline of 0.3 percentage points. The company cited higher labor costs and rising food ingredient prices as weighing on profitability.
Revenue rose 4.7% to 3.264 trillion won over the same period, driven by more catering contracts that lifted meal volumes and by expansion of its food-ingredient business.
In the fourth quarter, revenue and profit moved in opposite directions. Revenue fell 2% from a year earlier to 799 billion won as fewer business days reduced demand for catering and food ingredients. Operating profit, however, rose 9.4% to 35 billion won on cost efficiencies and a focus on profitability.
* This article has been translated by AI.
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