SEOUL: South Korean food company CJ CheilJedang Corp. announced on Tuesday that its net profit for the third quarter has decreased by 8 percent compared to the previous year. This decline is attributed to sluggish domestic demand and increased costs. According to Yonhap News Agency, the company's net profit for the three months ending in September dropped to 212.2 billion won (approximately US$151.4 million), down from 230.7 billion won in the same period last year, as stated in a regulatory filing. A company spokesperson mentioned that despite strong overseas sales of dumpling products under CJ's Bibigo brand and other food items, the weak local demand and high raw material costs adversely affected the quarterly profits. The company reported an increase in operating profit, which rose by 5.1 percent to 416.2 billion won in the third quarter, up from 395.9 billion won a year earlier. However, sales experienced a slight decline of 0.4 percent, falling to 7.41 trillion won from 7.44 trillion won during the sa me period. Despite the third-quarter challenges, CJ CheilJedang's net income from January to September increased by 26 percent, reaching 514.7 billion won from 407.5 billion won over the same timeframe last year. The company operates in various international markets, including the United States, Britain, France, Australia, Japan, China, and Thailand, among others.