Ace Bed posts 10.9% higher Q2 revenue as profit slips 1.7%

Ace Bed reported stronger second-quarter sales but slightly weaker profit as premium mattress demand and pricing supported growth while raw material costs, a construction-sector downturn and higher selling and administrative expenses weighed on margins. Consolidated second-quarter revenue rose 10.9% year on year to 84.79 billion won (approximately $59.8 million), operating profit fell 1.7% to 16.62 billion won (approximately $11.7 million), and net profit slipped 1.4% to 22.40 billion won (approximately $15.8 million). For the first half, revenue increased 7.6% to 169.83 billion won, operating profit rose 1.4% to 29.43 billion won, and net profit climbed 16.1% to 37.41 billion won. Bed division revenue reached about 151.6 billion won, or 89.3% of total revenue, while furniture revenue rose 11.1% to about 18.2 billion won; the domestic average bed selling price increased to 2.01 million won from 1.93 million won a year earlier.

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