Ostem Implant Reports 68% Drop in Net Profit Last Year... "Reflecting Embezzlement Loss Amount"
[Asia Economy Reporter Myunghwan Lee] On the 9th, Osstem Implant announced that its operating profit for last year rose 46.5% year-on-year to 143.6908 billion KRW. During the same period, sales increased by 30.6% to 824.77148 billion KRW. Net profit for the period decreased by 68.6% to 32.55168 billion KRW.
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An Osstem Implant official stated, "Sales increased due to solid growth both domestically and overseas, but profit and loss improved due to better cost ratios and cost reductions." Regarding net profit, the official explained, "Net profit decreased due to the reflection of embezzlement loss amounts."
This content was produced with the assistance of AI translation services.
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