Seegene Q1 operating profit up 388%
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." ■