Medipost announced record sales in the second quarter of 2017 and positive operating profit for the first time in nearly two years.
The Korean biotech company, which pursues innovation in stem cell technology and treatment, has seen success by diversifying its business portfolio, the company said.
Medipost메디포스트 (CEO: Yang Yoon-sun양윤선) said it turned around its operating profit and net income into the surpluses of 1.14 billion won ($1 million) and 1.43 billion ($1.2 million), respectively. Sales increased 25.1 percent from the preceding quarter and 69 percent when compared to the same period of last year. The sales numbers indicate the highest for the company since its listing in 2005.
The sales generated by its flagship unit – the umbilical cord blood division – increased 18.5 percent year-on-year, while its stem cell treatment business marked the growth of 83.4 percent from a year earlier.
Sales of its health foods and cosmetic divisions rocketed 101.6 percent and 809.2 percent, respectively.
“We could increase sales thanks mainly to our hit products such as Cartisem and Cellpium hitting record sales,” a company official said. “We will step up efforts to maintain the momentum in the latter half of the year.”
<© Korea Biomedical Review, All rights reserved.>