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Biz News Korea(Eng)
Green Cross’ 2015 OP dips 14.4 percent on increased R&D spending
- Collected
- 2017.02.04
- Distributed
- 2017.02.06
- Source
- Go Direct
The company reported 78.5 billion won ($ 68.45 million) in operating profit last year, down 14.4 percent on year as it spent 14.3 percent more on R&D investment in 2016 from a year ago.
Sales surged 14.3 percent on year to record-high of 1.2 trillion won. Its domestic sales soared 17.3 percent on year while overseas sales stayed flat.
Shares of Green Cross ended Friday at 142,500 won, up 0.35 percent or 500 won from the previous session.
The company is a member of the so-called ‘1 trillion won club’ in sales from drug-making along with Hanmi Pharm Co. and Yuhan Corporation.
Net profit sank 31.9 percent on year to 65.2 billion won last year as 2015 figures included one-off gain from its sales of shares in its local rival Ildong Pharmaceutical Co.
The company plans to make bold investments to expand its overseas businesses on its strengths in blood derivatives and vaccines
By Shin Chan-ok
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