[Edaily Reporter Park Jung-Soo ] DongwonFisheries(030720)reported earnings for the first half of this year that nearly matched its full-year operating profit from last year. The company plans to secure distributable earnings based on this improved performance and return value to shareholders.
DongwonFisheries announced on the 19th, through a Seohan posted on its official website, that it recorded consolidated revenue of 89.8 billion won, operating profit of 8.1 billion won, and net income of 7.5 billion won in the first half of this year.
The first-half operating profit of 8.1 billion won represents approximately 92% of last year’s full-year operating profit of 8.8 billion won. Net income also reached approximately 97% of last year’s full-year figure of 7.7 billion won in just the first half. DongwonFisheries explained that while it maintained a profitable trend last year following 2024, its profitability has improved further this year.
The company cited its fleet of 17 deep-sea fishing vessels and its global seafood processing and distribution value chain as the reasons behind the improved performance.
DongwonFisheries is enhancing fishing efficiency and productivity by deploying its new trawler, the “DW NOVA,” based on quota fishing rights in New Zealand’s pristine fishing grounds. Furthermore, leveraging its tuna fishing and processing technologies, frozen and refrigerated logistics facilities, and MSC (Marine Stewardship Council) certification, the company is expanding its business-to-business (B2B) food operations with global partners such as Japan’s “Hotto Motto.”
The company explained that its decision to go beyond primary catches and enhance its revenue structure by linking high-value-added processing with global supply chains also contributed to the improved profitability in the first half of the year.
Building on this improved performance, the company is also moving to resume dividend payments. DongwonFisheries plans to prioritize securing distributable profits as a key objective to lay the groundwork for returning future business performance to shareholders.
DongwonFisheries stated, “The company’s value must ultimately be proven through its performance, and those results must be shared with shareholders,” adding, “We will make securing distributable profits one of our top priorities to lay the groundwork for returning the fruits of our business performance to shareholders.”