Youngone announced on the 28th that its operating profit decreased by about 49% from the previous year to 328.4 billion won.
During the same period, sales were recorded at 3.5178 trillion won, a decrease of 2.4%.
Representatives from Youngone noted that they were affected by a decrease in global bicycle market demand.
Youngone, which engages in the production of outdoor sports apparel through original equipment manufacturing (OEM), acquired Scott, a company operating in the premium bicycle business, in 2013 and has it as a subsidiary. Scott has been experiencing continued poor performance due to decreased demand in the bicycle market in recent years.