Ottogi revealed robust financial results for the third quarter, posting a consolidated operating profit of 83 billion won, signaling an impressive 87.6% year-on-year surge. The company experienced a notable uptick in sales, registering a 10.6% increase to reach 908.7 billion won. Additionally, Ottogi’s net profit witnessed remarkable growth, soaring by 114.2% to 54.8 billion won.
The stellar performance is attributed to the balanced uptrend in sales for key products, including the traditional best-sellers, ketchup (branded as Ketchup) and mayonnaise (branded as Mayonnaise), as well as significant growth in major home meal replacement (HMR) items like Ottogi rice and cup rice.
Even in the realm of overseas sales, which historically lagged behind competitors such as Nongshim and Samyang Foods, Ottogi exhibited a strong performance. An Ottogi spokesperson highlighted, “The increased sales from overseas subsidiaries not only contributed to the uptick in operating profit but also reflected the positive effects of cost ratio improvement.”
