GreenPlus Reports 13.9 Billion KRW in Q3 Sales, Up 67% Year-on-Year
[Asia Economy Reporter Jang Hyowon] GreenPlus, a specialized company in advanced greenhouses and smart farms, announced its rapidly growing third-quarter performance.
GreenPlus disclosed on the 13th that its third-quarter sales on a separate basis reached 13.9 billion KRW, marking a 67% increase compared to the same period last year. Operating profit and net profit were 1.6 billion KRW and 700 million KRW, respectively, rising by 1847% and 2119%. The cumulative sales for the third quarter recorded 37.2 billion KRW, growing 45% year-on-year. Operating profit also increased by 154% to 2.7 billion KRW.
GreenPlus continued its strong performance in the third quarter following the first half. The company was selected for the government's ‘Smart Farm Testbed Construction’ project and is constructing large-scale smart farms. It is currently signing continuous smart farm orders and is exporting not only domestically but also overseas.
A GreenPlus official stated, “Recently, smart farms have gained attention as a core part of the Korean New Deal, and the company is maintaining strong performance. We are working hard to handle the rapidly increasing order volume and plan to actively participate in the government's smart farm expansion policy.”
GreenPlus expects a favorable business environment to continue next year as government and local governments expand smart farm industry promotion policies (such as innovation valley creation, smart farm youth startup support, and export support). Additionally, the new greenhouse materials factory in Dangjin, Chungcheongnam-do, is planned to start operations as early as this month to increase the volume of raw material orders.
Hot Picks Today
"Suspicious Timing?"...Trump Traded Stocks After Praising Wartime Capabilities
- China Eyes HBM... How Samsung and SK Can Maintain Their 'Super-Gap' Amid the Chase [Chip Talk]
- "Even If I Lose My Investment, the Government Will Cover It"... The Fund Attracting Retail Investors' Attention [Weekend Money]
- There Is a Distinct Age When Physical Abilities Decline Rapidly... From What Age Do Strength and Endurance Drop?
- "Envious of Korean Daily Life"...Foreign Tourists Line Up in Central Myeongdong from Early Morning [Reportage]
Meanwhile, at the Agricultural Day ceremony on the 11th, President Moon Jae-in said, “Rural areas are the core of the Korean New Deal, and smart farm distribution will be expanded to 7,000 hectares (ha) by 2022.” It is expected that the benefits of smart farm-related policies will continue in 2021 as well.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
