GC Labcell Achieves Turnaround with Record Revenue of 85.6 Billion KRW and Operating Profit of 6.4 Billion KRW Last Year

[Asia Economy, reporter Lee Chunhee] On February 9, GC Labcell announced that its consolidated operating profit last year reached 6.4 billion KRW, marking a record high and returning to profitability.

Both revenue and net profit also hit all-time highs last year. Revenue was 85.6 billion KRW, an increase of 47.8% compared to the previous year, while net profit reached 4.1 billion KRW, successfully turning a profit.

In the fourth quarter of last year, operating profit was 1.325 billion KRW, a turnaround from an operating loss of 1.164 billion KRW in the same period the previous year. Fourth-quarter revenue and net profit were 26.479 billion KRW and 654 million KRW, respectively.

GC Labcell attributed the improved profitability to overall growth in all business areas, including specimen testing and biopharmaceutical logistics, ongoing cost improvements, and revenue from technology transfer fees for NK (natural killer) cell therapy products.

The company’s core business, specimen testing, grew by 41% due to a steady increase in various specimen tests, including those for COVID-19. The biopharmaceutical logistics business also expanded rapidly, recording growth of 135.7%.

GC Cell, the consolidated subsidiary responsible for clinical trial specimen analysis, grew by 20.4%, which is seen as a successful market entry for the business.

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