Kurly posted a second-quarter operating profit of 27.4 billion won, extending a run of profitability to six straight quarters. Revenue rose 27 percent from a year earlier to 734.8 billion won. Net profit was 25.4 billion won, staying in the black for a second straight quarter.

Kurly said on Aug. 12 it posted consolidated second-quarter revenue of 734.8 billion won, up 27 percent from a year earlier. Operating profit jumped 1,991 percent to 27.4 billion won. Net profit came to 25.4 billion won.

Improved profitability was a key driver. As commission-based revenue such as seller-delivered products (3P) increased, the cost-of-sales structure improved. The gross margin in the second quarter was 35.3 percent, up 1.5 percentage points from a year earlier. Total transaction value during the period rose 25.1 percent to 1.08 trillion won.

Growth in core businesses supported the results. Market Kurly transaction value rose 25.7 percent from a year earlier, as sales volume increased for fresh food and home meal replacements. Beauty Kurly transaction value grew 13.5 percent, supported by the popularity of luxury and indie brands. New businesses also gained momentum. 3P transaction value, including the fulfilment service (FBK), grew 32.1 percent over the past year, and Kurly N Mart also saw transaction value rise steadily.

The financial position also improved as profitability strengthened. Cash and cash equivalents rose 73 percent from a year earlier to 372.9 billion won.

Jonghoon Kim (김종훈), Kurly’s CFO, said, "We achieved both scale expansion and solid growth at the same time, proving both our business growth and profitability." He added, "Based on high growth in our core and new businesses, we will maximise corporate value and build the optimal foundation for successfully pursuing an IPO in the future."