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Biz News Korea(Eng)
Samsung BioLogics slides back to red Q2, upbeat for full year
- Collected
- 2017.07.25
- Distributed
- 2017.07.26
- Source
- Go Direct
The company in a disclosure statement on Monday reported an operating loss of 8.4 billion won ($7.52 million) on a consolidated basis for the quarter ended June, widening from the 3.1 billion won loss in the same period last year. Sales increased 33 percent to 63.2 billion won.
Despite its performance that fell below expectations, its shares jumped 6.6 percent to 291,000 won as of 11:30 a.m. in Seoul trading Tuesday as one-time loss has already been factored in.
“Output was disrupted by repair and maintenance work at the two factories, a plan that has been announced in December,” said the company.
Industry watchers predict the company to return to profit from the third quarter as well as for full 2017.
“We are working on achieving break-even point this year,” said Kim Tae-han, chief executive of Samsung BioLogics.
Construction on the third factory will be completed this year, and negotiations are underway for orders, he said.
By Chung Woo-sung
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