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Biz News Korea(Eng)
Green Cross hits all-time high revenue of $1.2 bn in 2017
- Collected
- 2018.02.06
- Distributed
- 2018.02.07
- Source
- Go Direct
Green Cross in a disclosure statement Monday estimated that its operating profit last year rose 15.1 percent to 90.3 billion won ($83 million) from a year ago on record high revenue of 1.29 trillion won, up 7.5 percent on year.
Shares of Green Cross Monday ended 7.96 percent down at 208,000 won from the previous session.
The company attributed its stellar performance to blood product and vaccine businesses. By division, sales of blood products in 2017 jumped 7 percent from the previous year on solid demand at home and abroad. Vaccine sales also climbed 12 percent over the same period.
On top of that, a drop in selling, general and administrative expenses (SG&A) led to the on-year growth in its operating profit, the company said. Green Cross estimated its SG&A last year stood at 21.5 percent against revenue, down from 22.8 percent a year ago.
In the final three months of 2017, the company raked in 326.3 billion won in revenue, up 1.7 percent from a year earlier, but it posted 117 million won in operating profit, down nearly 100 percent over the same period.
The company said it would make a bold investment this year to sustain the growth, but did not elaborate its investment in details.
By Kim Hye-soon and Lee Ha-yeon
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