Dongwon F&B announced on the 30th that its consolidation-based sales in the first quarter amounted to 1.1948 trillion won, a 6.8% increase compared to the same period last year. During the same period, operating profit rose 8.2% to 54 billion won.
The separate-based sales and operating profit for the first quarter were 567.7 billion won and 34.8 billion won, respectively, marking increases of 7.9% and 8.5%.
This is thanks to the successful portfolio diversification strategy in the food institutional sector, including seasoned food and pet food, as well as ready-to-eat meals. In particular, the seasoned food business showed double-digit growth due to the launch of new products like tuna sauce and tuna broth, and the full-scale export of the pet food brand "NEWTREE" to the United States improved performance.
The sales and operating profit of the subsidiary Dongwon Homefood also increased by 8.1% and 3.1%, respectively, compared to the previous year. The growth in the seasoned food business, led by the low-sugar and low-calorie sauce brand "VIVID KITCHEN," contributed to this success. The food ingredient distribution division improved its performance by securing contracts with large new clients.
Dongwon Group has recently begun restructuring its business to strengthen its global food operations. The plan involves consolidating four domestic and international food companies, including Dongwon F&B, Dongwon Homefood, StarKist, and S.C.A SA, into a "Global Food Division" to secure business competitiveness in the global market and generate synergies among subsidiaries. Through this, the group aims to increase the proportion of overseas sales in its food business from 22% in 2024 to 40% by 2030.