NextenBio Reports Operating and Net Profit Turnaround to Black in Q1
Nexten Bio achieved strong performance in the first quarter of this year.
Nexten Bio announced on the 10th that it recorded sales of 4.4 billion KRW, operating profit of 600 million KRW, and net profit of 1.5 billion KRW based on separate financial statements for the first quarter. On a consolidated basis, sales were 11.3 billion KRW, operating profit was 300 million KRW, and net profit was 1.5 billion KRW.
Compared to the same period last year, sales increased by 30.9%, and both operating profit and net profit turned positive. The rebound in performance was driven by increased sales in the core CNC automatic lathe division and improved cost ratio.
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A representative of Nexten Bio stated, “The company is making company-wide efforts to achieve a turnaround to profitability through increased sales and management efficiency this year. Based on expanding sales in our existing core businesses, we will improve profitability and create a year of growth by enhancing business capabilities through diversification, including the bio business.”
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