May 19, 2015 12:54
Confectioner Orion's business in China is thriving with more than half of its annual revenues coming from that source for the first time.
Orion said Monday that 50.7 percent of its consolidated first-quarter sales of W698.2 billion came from China (US$1=W1,087).
The proportion of the confectioner's sales in China has steadily increased with 45 percent in 2013 and 47 percent in 2014. Last year they stood at W1.16 trillion, a whopping 985-fold rise from W2.5 billion in 1997, when it started manufacturing products there.
The main driver is the explosive popularity of Orion's Choco Pie and other snacks. Choco Pie leads the Chinese market for this type of snack with a share of over 40 percent.
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