Korean soju makers likely to log strong quarterly profit

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Korean soju makers likely to log strong quarterly profit - Korea Economic Daily

Quick Summary:

HiteJinro Co., South Korea’s leading soju maker, will likely post its best quarterly profit in the second quarter as the clear distilled spirit caught on in overseas markets not only with fruit-flavor and zero-sugar products, but also with its traditional, vodka-like taste.

For all of 2024, its operating profit is forecast at 196.8 billion won, its highest since 2020.“Soju product exports continue to take a bigger share (of HiteJinro’s sales) from 10% last year.

Operating profit at HiteJinro is estimated to have skyrocketed 340.3% to 52.4 billion won ($38 million) in the second quarter of this year from the year prior, according to a consensus forecast provided by FnGuide, a financial information company.