SM Records Highest Profits Ever

It has been known that SM Entertainment, which manages idol stars such as So Nyeo Shi Dae and Super Junior, has achieved a sales record of 22.7B KRW (about 19.74 million USD) for the first quarter of 2010. This is their highest sales record in their company history.

A SM representative said, “We saw a 58% growth in the sales for the 1st quarter of 2010 from the same quarter last year at 22.7B KRW. Our operating profit is at 10.4B KRW, which is a growth of 471% from the same quarter last year. This is the best for our company since we were established in 1995.”

The operating profit for the whole of last year for the company was 0.93B KRW.

This can be attributed mainly to the sales from So Nyeo Shi Dae 2nd album “Oh!”. The group received support from international fans with their promotions in different parts of Asia in the second half of year 2009.

SM added, “Upcoming are the album releases and public performances in Asia by our singers like Super Junior, Super Junior M, So Nyeo Shi Dae, SHINee, f(x). We are also planning on releasing various new contents products like digital contents with the increasing popularity of smart phones. We are expecting the figures to continue to rise in our 2nd quarter.”

S:Newsen
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