CJ CGV posts record profit in Vietnam

CJ CGV, the cinema chain from the Republic of Korea, achieved remarkable success in Vietnam, posting

in the first quarter of this year. With a revenue of KRW59.1 billion (US$44.8 million) and an operating profit of KRW9.3 billion, the company witnessed of 125.6% in revenue. Additionally, it gained an extra KRW7.1 billion in operating profit, marking the highest-ever quarterly operating profit reported by the film distributor in Vietnam. This exceptional achievement surpassed the KRW2.1 billion recorded in the first quarter of 2019, which was before the onset of the Covid-19 pandemic.

CJ CGV highlighted that it generated operating profits exclusively in Vietnam and Turkey, with the latter contributing KRW50 million. Looking ahead, the company projects that its favorable business performance will continue in the second quarter. This positive outlook is attributed to the recovery of the film industry and the release of highly anticipated movies. With its

in Vietnam, where it has been operating since 2011, CJ CGV currently operates 83 cinemas and 483 screens, dominating 51% of the market share in the Southeast Asian nation. Overall, CJ CGV's record quarterly operating profit in Vietnam demonstrates its . The company's strategic presence, coupled with the revival of the film industry and the release of popular movies, has contributed significantly to its outstanding financial performance in the region.

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