Noroo Paint & Coatings announced on the 16th that its consolidated revenue for the first quarter of this year was 172.1 billion won, with an operating profit of 4.7 billion won. Compared to the same period last year, revenue decreased by 0.2%, and operating profit dropped by 47.7%.
Noroo Paint & Coatings explained that the operating profit sharply declined due to delayed recovery in the construction market, which has weakened domestic demand. However, it noted that it successfully defended revenue by maintaining its demand base in the metropolitan recoat market.
Noroo Paint & Coatings plans to improve its revenue structure by restructuring its portfolio around high-value-added products and expanding its new material business and technology-based product diversification.