Innocean Q1 operating profit jumps 33% to record 39.7 billion won

Innocean, the advertising affiliate of Hyundai Motor Group, recorded operating profit of 39.7 billion won in the first quarter of this year, marking its highest quarterly result. According to industry sources on May 11, Innocean’s first-quarter operating profit rose 33% from a year earlier. The result reportedly surpassed the quarterly operating profit of Cheil Worldwide, the industry leader, for the first time in 10 years. As a Hyundai Motor Group advertising company, Innocean strengthened its presence in profitability competition within the sector through the improved first-quarter performance. Future earnings momentum may depend on advertising market conditions and spending by major advertisers. Source: mk.co.kr