Green Cross Holdings Turns to Profit with 36.23 Billion Won in Operating Income Last Year

On February 2, Green Cross Holdings announced in a regulatory filing that its operating profit for the previous year reached 36.23 billion won, turning to profit from an operating loss of 10.72 billion won in the prior year, according to preliminary figures.

During the same period, sales amounted to 2.4515 trillion won, up 11.2% from 2.2049 trillion won a year earlier. Net loss for the year widened to 37.16 billion won, a 235.1% increase from the previous year’s net loss of 11.09 billion won.

The company explained, “Operating profit turned positive due to improved profitability at subsidiaries, but net loss increased as a result of recognizing non-cash, one-off expenses such as goodwill impairment losses.”

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