Sujentec's Sales Reach 77.2 Billion KRW Last Year... Operating Profit Up 54%

COVID-19 self-test kits are being produced at Sujentech factory in Cheongju, Chungbuk. [Image source=Yonhap News]

[Asia Economy Reporter Chunhee Lee] SuzenTech, a company specializing in in vitro diagnostic medical devices, achieved record-high operating performance by realizing an 87% sales growth driven by increased sales of COVID-19 diagnostic kits.

SuzenTech announced on the 17th that its consolidated sales for last year reached KRW 77.2104 billion, marking an 87.0% increase compared to the previous year. Operating profit rose by 54.0% to KRW 34.59626 billion, achieving an operating profit margin of 45%. Net profit also turned positive, reaching KRW 34.57451 billion.

SuzenTech attributed the increase in sales and operating profit to "profit growth due to increased sales of COVID-19 diagnostic kits."

Son Mijin, CEO of SuzenTech, stated, "This year as well, the demand for diagnostic products is expected to continue for some time due to the spread of the Omicron variant and the transition of quarantine systems in various countries. We plan to focus on targeting diverse overseas markets including Asia, North America, and Latin America this year."

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