Samyang Foods posts record quarterly revenue and operating profit; net income falls
Samyang Foods disclosed preliminary third-quarter operating profit of 196.2 billion won, up 49.9% year on year, and revenue of 791.8 billion won, up 25.3%, both quarterly records. Overseas sales rose 29.4% to 660.8 billion won. Net income fell 18.9% to 89.2 billion won, which the company attributed to accounting valuation losses on foreign-currency assets caused by a stronger won.