GC Green Cross, 3Q Sales 459.7 Billion KRW... Cumulative Sales Reach 1 Trillion KRW

GC Green Cross logo (Photo by GC Green Cross)

[Asia Economy Reporter Chunhee Lee] GC Green Cross announced on the 1st that its consolidated financial results for the third quarter of this year showed sales of 459.7 billion KRW, operating profit of 48.8 billion KRW, and net profit of 42.4 billion KRW. These figures represent decreases of 1.3%, 31.7%, and 27.0% respectively compared to the same period last year.

A Green Cross official explained, "Operating performance slightly declined due to the base effect of record-high sales last year driven by COVID-19 vaccine distribution," adding, "Operating profit temporarily decreased due to the commencement of Phase 2 clinical trials in the U.S. for the next-generation shingles vaccine 'CRV-101'." Among the major consolidated subsidiaries, GC Cell and Green Cross Wellbeing achieved double-digit sales growth of 33.8% and 29.7%, respectively.

For the cumulative results this year, sales reached 1.2998 trillion KRW, a 14.5% increase from last year, achieving the 'annual sales of 1 trillion KRW' target ahead of schedule. Cumulative operating profit rose 18.4% year-on-year to 103.7 billion KRW, while net profit decreased by 14.2% to 71.3 billion KRW.

The company stated, "Growth in the prescription drug sector, supported by the expansion of self-developed products, and net growth in the vaccine and blood products business sectors contributed to the increase in cumulative sales and operating profit."

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