CJ Freshway's first-quarter revenue reached 798.6 billion won, marking a 9.2% increase compared to the same period last year. Operating profit was 10.6 billion won, reflecting a 0.8% growth.
The revenue from the distribution business of dining ingredients and food materials targeted at restaurant companies, distribution agencies, and food manufacturers amounted to 379.9 billion won. The increase in online orders was a notable feature. A CJ Freshway official noted, "The sales from online channels tripled compared to the same period last year."
The revenue from the meal supply business, which combines the distribution of meal ingredients and catering services, was 412.4 billion won. Keeping pace with social changes, the company's entry into meals for childcare facilities and elderly meal delivery businesses contributed to the improvement in performance.
CJ Freshway is reporting that the significant restructuring of its business into 'distribution of dining ingredients and food materials' and 'distribution of meal ingredients and catering services' at the end of last year was effective in strengthening its market responses.
A CJ Freshway official stated, "The distribution sector for dining ingredients plans to develop tailor-made products through strategic collaboration between restaurant sales and product organizations, while in the institutional sector for meal ingredients and catering, we aim to accelerate synergy effects through integrated purchasing of meal ingredients."
Im Sung-cheol, Chief Financial Officer (CFO) of CJ Freshway, mentioned, "We will enhance our future growth strategy centered on O2O (online-to-offline) distribution of food materials and kitchen-less meal services, and improve our corporate value through increased acquisition of new customers and business structure enhancement."