Korean confectionery maker Orion reports impressive business in Vietnam, China

Korean confectionery maker Orion posted the highest ever growth rate and a record revenue in the first half of the year, with particularly impressive results in the Vietnamese and Chinese markets.

Accordingly, the company reported a revenue of KRW 1.46 trillion ($1.07 billion) in the first six months of the year, and an operating profit of KRW 246.8 billion, representing increases of 6.5% in revenue and 16.8% in operating profit compared to the same period last year.

The company’s subsidiary in Vietnam grossed a revenue of KRW 216.6 billion, marking a 7.7% growth due to increased market share of Choco Pie, rice crackers, and mass-produced bread.

Its operating profit reached KRW 34.8 billion, up 16.2% thanks to cost efficiencies, including reduced logistics and advertising expenses.

Orion Vietnam will focus on promoting key brands, such as reorganizing product lines and expanding its consumer base by introducing new products targeting children, such as jelly and rice crackers.

Additionally, the company is actively targeting convenience stores and popular e-commerce channels among younger consumers.

It will also focus on securing future growth drivers through the expansion of its overseas business operations.

Meanwhile, Orion China reported 602.2 billion KRW in revenue, up 7.2%, and KRW 110.1 billion in operating profit, up 23.1%.