Jin Matrix Reports 4.9 Billion KRW in 1Q Sales... Operating Profit Up 201%
[Asia Economy Reporter Lee Chun-hee] Jin Matrix reported sales of 4.867 billion KRW and an operating profit of 945 million KRW in its Q1 quarterly report disclosed on the 16th. Compared to the same period last year, sales increased by 42% and operating profit rose by 201%. However, net loss widened to 3.952 billion KRW.
A company official explained, “The sales growth in Q1 this year was due to continued exports of ‘NeoPlex COVID-19’ and increased sales of the sexually transmitted infection diagnostic product ‘NeoPlex STI.’ The net loss is an accounting figure reflecting valuation losses on shares of Nasdaq-listed Vaccitech, and we expect improvement with the recovery of the U.S. financial market.”
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He added, “The COVID-19 pandemic served as a catalyst for expanding PCR testing infrastructure worldwide. Even after the post-COVID transition, demand for PCR-based molecular diagnostics is expected to continue increasing.”
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