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SPC Samlip Q2 net up 57.5 pct thanks to Pokemon bread craze

Earnings 14:33 August 10, 2022

SEOUL, Aug. 10 (Yonhap) -- SPC Samlip Co. reported Wednesday that its second-quarter net profit jumped 57.5 percent thanks in part to a spike in sales of its "Pokemon bread."

The food and bakery company logged a net profit of 15.9 billion won (US$12.2 million) on a consolidated basis in the April-June quarter, compared with a net profit of 10.1 billion won a year earlier, the company said in a regulatory filing.

Second-quarter operating income also jumped 61.5 percent on-year to 23.5 billion won, with sales growing 14 percent to 814.9 billion won. The figures were the best quarterly results since the company's establishment, SPC said.

"Our core businesses -- baked goods and food -- showed robust performance, while our foodstuff distribution business recovered from the pandemic-caused slump as expressway snack bars reopened as virus restrictions eased," SPC said.

SPC attributed strong earnings in the second quarter to a local craze over its Pokemon bread that comes with a sticker of a character from the popular Japanese animation series.

Around 70 million units of the product have been sold since its relaunch in February this year after its sales were suspended in 2006 due to expiration of the license for the character use, it said.

SPC Samlip is the baked goods and food distributor under SPC Group, which operates the Paris Baguette bakery chain, Shake Shack Burger and Egg Slut restaurants in South Korea.

Pokemon-themed bread, produced by SPC Aamlip, is displayed on the shelves of a convenience store in this undated photo. (Yonhap)

fairydust@yna.co.kr
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