GC Labcell Turns Profitable on Record-High Quarterly Results

[Asia Economy, Reporter Lee Chunhee] GC Labcell achieved its highest-ever quarterly performance and successfully turned a profit.

On April 28, GC Labcell announced in a regulatory filing that its consolidated revenue for the first quarter of this year reached 27.26 billion KRW, an increase of 79.3% compared to 15.23 billion KRW in the same period last year, based on preliminary figures. During the same period, both operating profit and net profit also reached record quarterly highs, at 3.7 billion KRW and 4.923 billion KRW respectively, marking a turnaround to profitability.

By business segment, the core specimen testing division saw continued growth in demand, resulting in a year-on-year sales increase of 81.7%. The bio-logistics business, which is currently expanding, also saw its revenue scale grow by about 93% compared to a year earlier.

Sales at GC Cell, a consolidated subsidiary responsible for clinical trial sample analysis, also rose by 22.4% year-on-year, continuing its growth trend.

Profitability indicators improved as the company grew in size. Thanks to ongoing improvements in cost ratios, gross profit margin improved by 9.4 percentage points compared to the same period last year.

A GC Labcell representative stated, "The growth trend in the specimen testing business is clear, and we expect robust growth to continue, as additional technology transfer fees from the local development of NK cell therapy in the United States are anticipated."

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