Coway Co., Ltd. introduced its monetary outcomes for the primary quarter of 2023, posting $709 million in income, a 2.2% year-over-year enhance. First quarter working revenue was $131.3 million, a 1.7% year-over-year enhance.
Home residence equipment gross sales income grew 3.7% from the identical interval final yr, which the corporate attributed to the success of its latest merchandise, together with its water purifiers, BEREX line and Good Mattress merchandise.
Malaysia and Thailand have been the strongest markets for the corporate and have been key growth-driving subsidiaries, producing $200 million and $16.3 million in income respectively.
“Coway maintained secure gross sales income and working revenue all through the primary quarter,” mentioned Quickly Tae Kim, Coway Chief Monetary Officer. “Regardless of the challenges posed by a world financial recession, we stay dedicated to reaching secure development by means of market share growth within the international market, progressive product launches, and strategic advertising and marketing efforts.”
