Coway First Quarter Revenue Rises 2.2 Percent to 948.3 Billion Won
SEOUL, South Korea, May 12, 2023 --
Coway Co., Ltd. reported first-quarter 2023 consolidated revenue of 948.3 billion won, up 2.2 percent year over year, with operating profit of 175.6 billion won, up 1.7 percent. Domestic home-appliance revenue rose 3.7 percent to 580.4 billion won, aided by water purifiers and the BEREX sleep and wellness lineup including the Smart Mattress.
Overseas subsidiaries' revenue rose 1.2 percent to 336.4 billion won. Malaysia revenue was 268.2 billion won, up 2.1 percent, and Thailand revenue rose 29.8 percent to 21.9 billion won. Chief financial officer Soon Tae Kim said the company remains focused on global market-share expansion, innovative products and strategic marketing despite a global economic recession.
Coway is a South Korea based environmental home-appliance company that sells water purifiers, air purifiers, bidets and mattresses through a door-to-door and membership model and overseas subsidiaries.
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