Industry
Profit divide for Orion and Lotte Wellfood hinges on chocolate dependence
Orion and Lotte Wellfood posted higher consolidated sales last year from a year earlier, but their operating profit results diverged, industry officials said. Orion’s operating profit rose 2.7 percent, while Lotte Wellfood’s fell 30.3 percent. Both cited higher raw material costs, particularly a surge in cocoa prices. Orion’s core products are snacks, biscuits and pies, while Lotte Wellfood relies more on chocolate products such as Ghana and Pepero.
