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Seegene Q1 operating profit up 388%

Christian Fernsby |
Seegene reported its financial results for the first quarter of 2021, with reports showing robust earnings.

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Topics: SEEGENE   

The biotechnology firm posted KRW 351.8 billion in consolidated revenue, a 330% increase compared to the same period last year and a record for the first quarter.

Operating profit at KRW 193.9 billion, also up 388% on-year, reflecting steady growth in its sales of diagnostic tests.

Seegene's Senior Managing Director of IR and PR Department Myungkun Kim said "the company was able to manage 55% of annual operating profit ratio, a clear reflection of its ability to effectively manage the firm despite the constant investment in R&D and expansion of manpower." He added that "once investments come to fruition, the operating profit ratio will likely surge even further."

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