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Seegene posts ₩31.4 billion in Q3 sales
  • By Lee Han-soo
  • Published 2019.11.15 13:50
  • Updated 2019.11.15 13:50
  • comments 0

Seegene recorded sales of 31.4 billion won ($26.9 million) in the third quarter of this year, a 34 percent increase from a year ago. The company also registered 6.8 billion won in operating profit, up a drastic 140 percent, and a net profit of 5.9 billion won.

"The third quarter of each year had been affected by seasonal factors, such as the decrease in respirator demand, which accounts for the largest portion of the company's sales, during the summer holiday seasons," the company said. "However, the sales of Allplex, our flagship product, increased significantly."

It is noteworthy that operating profit growth is surging riding on sales growth this year, the company added.

Seegene's cumulative sales and operating profit in the first three quarters stood at 88.6 billion and 17.3 billion won, respectively, up 22 percent and 207 percent, respectively, from a year earlier.

"This is because Seegene has a low-cost structure of around 30 percent, and if sales management expenses do not increase significantly, sales growth could greatly contribute to operating profit growth," the company said. "This year, such a trend has become particularly noticeable, and since there is a similar pattern of profit structure in the future, expectations for future earnings are also high."

Allplex products with the latest patent technology have been evaluated by professional groups as superior to competitors' products, and are being used in medical institutions all over the world, the company added.

corea022@docdocdoc.co.kr

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