Coway Second Quarter Revenue Rises 2.9 Percent to 1.006 Trillion Won
SEOUL, South Korea, Aug. 9, 2023 --
Coway Co., Ltd. reported second-quarter 2023 consolidated revenue of 1,006.2 billion won, up 2.9 percent year over year, with operating profit of 194.2 billion won, up 10.3 percent. Domestic health-appliance revenue rose 2.9 percent to 590.4 billion won, aided by water purifiers, air purifiers and mattresses.
Overseas subsidiaries' revenue rose 7.0 percent to 378.9 billion won. Malaysia revenue was 285.6 billion won, up 3.9 percent, U.S. revenue rose 13.7 percent to 61.1 billion won, and Thailand revenue rose 25.7 percent to 24.5 billion won. Chief financial officer Soon Tae Kim said the company remains focused on Korea and international expansion and on growing the BEREX sleep and wellness brand despite difficult market conditions.
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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