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Office building for Yuhan. (Photo = Yuhan Corporation) |
[Alpha Biz= Reporter Paul Lee] On the 30th, Yuhan Corporation announced that its consolidated operating profit for the first quarter of this year, amounted to 600 million won, a preliminary estimate showing a decrease of 97.4% compared to the same period last year.
Revenue during the same period increased by 0.3% to 4.446 trillion won. Net profit fell by 51.3% to 108 billion won.
The separate basis operating profit for the first quarter was 6.1 billion won, a preliminary estimate showing a decrease of 68.4% compared to the same period last year.
Revenue amounted to 4.331 trillion won, an increase of 0.4% over the same period, and net profit increased by 4.8% to 36.4 billion won.
Yu Han Corporation explained the background of the deteriorating performance, stating that research and development investment in the first quarter of this year increased by 10.6 billion won compared to the same period last year, and advertising and promotional expenses for new products in the over-the-counter (OTC) and household goods sectors increased by 4.5 billion won during the same period.
Moreover, they analyzed that the increase in first-quarter revenue was limited to 1.7 billion won compared to the same period last year, attributing it to the aftermath of conflicts over medical school enrollment quotas.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
