Lotte Chilsung Beverage Reports Significant Increase in Q4 Net ProfitHL Mando Reports 30.8% Increase in 2023 Net Profit

SEOUL—Lotte Chilsung Beverage Co. experienced a substantial surge in its fourth-quarter net profit, reaching 35.3 billion won ($26.5 million), which marks a 509 percent increase from the previous year. Despite the impressive growth in net profit, the company observed a decrease in operating income by 67.3 percent to 8 billion won for the October-December period. However, sales saw a significant rise of 37.3 percent, totaling 918.4 billion won.

According to Yonhap News Agency, these results surpassed market expectations, with the average net profit estimate by analysts being significantly lower at 7.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. The dramatic increase in net profit against the backdrop of falling operating income highlights a complex financial period for Lotte Chilsung Beverage.

SEOUL - HL Mando Co. announced on Monday a significant growth in its financial performance for the year 2023, with a net income of 154.7 billion won (US$116.2 million), marking a 30.8 percent increase from the previous year.

According to Yonhap News Agency, its operating profit also saw a healthy rise, reaching 279.3 billion won compared to 248.1 billion won in the prior year. Furthermore, HL Mando's annual revenue experienced an 11.7 percent increase, totaling 8.39 trillion won.

This financial upturn reflects the company's robust operational efficiency and market strength, contributing to a considerable enhancement in its profitability and revenue streams over the year.

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