[Public Notice+] GRT, Q3 Cumulative Operating Profit 51.2 Billion KRW... Operating Profit Margin 20.3%

[Asia Economy Reporter Eunmo Koo] GRT, a KOSDAQ-listed company with a fiscal year ending in June, announced on the 26th through a public disclosure that its cumulative sales for the third quarter of the 2020 fiscal year (January to March) were approximately 251.5 billion KRW, and operating profit was 51.2 billion KRW.

GRT's cumulative sales for the third quarter amounted to 1.53 billion yuan, a 7.2% decrease compared to the same period last year, while operating profit was 310 million yuan, down 10.0% during the same period. The operating profit margin remained in the 20% range. A company representative explained, "Although operations were impacted by COVID-19 in the third quarter, based on the strong performance in the first half, the decrease in cumulative sales and operating profit for the third quarter did not exceed 10%."

GRT is a Chinese manufacturer of precision coated functional new materials, offering a diverse product portfolio including packaging films, optical protective films, optical adhesive films, and functional films. The company stated, "Due to the recovery in demand from downstream industries, flexible growth and profit expansion are expected next year. The large-scale third factory project, which is under construction and scheduled to be completed in October this year and fully operational from February next year, is progressing smoothly, so the effect of factory expansion will contribute to performance from the second half of next year."

Juyongnam, CEO of GRT, said, "Thanks to the efforts of all employees, we were able to minimize the decline in performance even under the worst management conditions," and added, "Next year, we expect significant growth through the combined effects of demand recovery and factory expansion."

This content was produced with the assistance of AI translation services.