Cheil Worldwide said Friday its second-quarter operating profit rose 0.6 percent from a year earlier to 92.7 billion won ($63.1 million), according to a preliminary regulatory filing.
Sales fell 4 percent on-year to 1.07 trillion won, while net profit climbed 24 percent to 63.5 billion won.
Gross profit — sales minus cost of goods sold — grew 1.2 percent year-on-year to 489.6 billion won. For the first half, gross profit rose 1.6 percent to 931.9 billion won.
During the first half, Cheil Worldwide added Naver Shopping, Jarvis & Villains and Dunamu's Upbit exchange as new domestic clients. Overseas subsidiaries brought in China Construction Bank, Chinese travel platform Trip.com and Thailand's largest retail affiliate Makro as new advertisers.
The parent company and overseas subsidiaries generated gross profit of 107.6 billion won and 382 billion won, respectively. Volume growth in key markets including North America and emerging markets also contributed to the results.
By service category, digital accounted for 56 percent of second-quarter revenue, followed by retail and below-the-line advertising at 30 percent and traditional above-the-line advertising at 14 percent.
In the second half, Cheil Worldwide plans to drive operational efficiency through AI-based innovation and push forward with new businesses, including enterprise solutions.
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