BGF Retail Posts Slight Increase in 2023 Net Profit

SEOUL — BGF Retail Co. has reported a modest growth in its net income for the year 2023, with a 1.2 percent increase to 195.8 billion won (US$147.5 million). In a regulatory filing, the company also revealed its operating profit for the year amounted to 253.2 billion won, marginally higher than the previous year's 252.4 billion won. Furthermore, BGF Retail saw its annual sales climb 7.6 percent to reach 8.19 trillion won.

According to Yonhap News Agency, the company managed to achieve slight growth in profitability and a notable increase in sales over the past year. This performance indicates a positive trend in the retail sector, as BGF Retail continues to expand its market presence and financial stability amid varying market conditions.

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