Products from Orion. [ORION] Orion achieved its best ever performance for the first half of this year after a surge in overseas sales. The confectionery maker announced Friday a 12.6 percent increase in sales surpassing 1.5 trillion won ($1.27 million) in the first half of the year. Its operating profit also rose by 43.5 percent on-year to 183.2 billion won over the same period. Orion’s quarterly performance also exceeded market expectations. It recorded 65.7 billion won in second quarter net profit, increasing on-year by 78.3 percent. Its sales for the same period also increased 17.3 percent on-year, reaching 515.1 billion won. Orion said its earnings surprise was due to stellar performances overseas, especially in China, Vietnam and Russia. Sales in China increased by 15.1 percent on-year in the second quarter and operating profit by 54.1 percent. Its snacks and candy sold particularly well in the Chinese market. Another category that helped propel sales was its dried seaweed snacks, which it recently launched in China. Orion plans to enter China's 1.4 trillion won nutritional snack bar market with its Doctor You Protein Bars. It will also release new seasonal snacks to expand its customer base there. In Vietnam, the confectionery maker… Read full this story
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