Coway Second Quarter Revenue Rises 7.6 Percent to 1.08 Trillion Won
SEOUL, South Korea, Aug. 9, 2024 --
Coway reported second-quarter 2024 revenue of 1,082.3 billion won, up 7.6 percent from a year earlier, and operating profit of 211.2 billion won, up 8.8 percent. First-half revenue reached 2,084.1 billion won, up 6.6 percent, with operating profit up 9.5 percent to 404.9 billion won.
Revenue from the domestic business in South Korea rose 11.1 percent to 655.7 billion won, driven by rentals of BEREX mattresses and massage chairs and its ice water purifier. Overseas subsidiaries generated 382.2 billion won, including 286.9 billion won from Malaysia and 28.7 billion won from Thailand.
Chief Financial Officer Soon Tae Kim said strong sales of key product lines drove both growth and profitability, and that Coway aims to strengthen its market leadership in the second half through technology and design innovation.
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