On the 9th, CJ CheilJedang recorded its lowest price in a year during trading.
On this day, according to the Korea Exchange, CJ CheilJedang was trading at 230,500 won, down 4,000 won (1.71%) from the previous trading day as of 9:40 a.m. CJ CheilJedang fell to 229,500 won during trading, hitting a new low for the year.
This is interpreted as being due to weakened investor sentiment as the securities sector issued a bleak outlook for CJ CheilJedang's first-quarter performance this year.
On this day, Korea Investment & Securities estimated CJ CheilJedang's first-quarter sales at 7.3461 trillion won and operating profit at 348.4 billion won. While sales increased by 1.8% compared to the same period last year, the operating profit decreased by 7.3% during the same period. Compared to previous market forecasts, these figures fall short by 1.2% and 10.9%, respectively.
Kang Eun-ji, a researcher at Korea Investment & Securities, noted, “The domestic food business is expected to see a slight decrease in sales compared to the same period last year,” adding, “The rise in the won-dollar exchange rate has worsened the profitability of the domestic food business, and the increase in fixed costs for the U.S. operations due to production disruptions in U.S. desserts caused by natural disasters is also a burden.”