CJ CheilJedang reported first-quarter revenue of 4.03 trillion won, up 4.3% from a year earlier, excluding its subsidiary CJ Logistics, the company said Monday. Operating profit for the same period fell 26% to 148.5 billion won.
The food business posted revenue of 3.04 trillion won, up 3.9%, with operating profit rising 11.2% to 143 billion won, driven by overseas growth. Revenue in the Americas rose 3%, while Europe and the Asia-Pacific region each recorded 17% growth. In Japan, however, overall revenue declined 2% as sales of Mitsuo, a key product, fell despite a 17% increase in dumpling sales. The company said the revenue drop stemmed from reduced marketing spending on Mitsuo, but operating profit improved.
The bio business recorded revenue of 988.7 billion won, up 5.7% year-on-year, achieving its highest-ever sales volume on expanded demand for specialty amino acids. However, operating profit plunged 92.4% to 5.5 billion won, hit by intensified market competition for tryptophan, a high-margin product, and an unfavorable base effect from lysine prices.
On a consolidated basis including CJ Logistics, revenue rose 6% to 7.11 trillion won, while operating profit fell 17.2% to 238.1 billion won.
