Dong-A Socio Holdings Reports 6.9% Revenue Growth to 351 Billion Won in Q1
Operating Profit Slightly Down to 19.1 Billion Won
Dong-A Socio Holdings reported a 6.9% increase in revenue for the first quarter of this year, driven by the external growth of its major subsidiaries.
According to a disclosure on April 27, Dong-A Socio Holdings announced that its consolidated revenue for the first quarter of this year reached 351 billion won, up 6.9% from the same period last year. However, operating profit decreased by 6.0% year-on-year to 19.1 billion won due to increased cost burdens at subsidiary companies.
Dong-A Pharmaceutical, the group's core subsidiary, posted strong results as sales of Bacchus and the over-the-counter (OTC) drug segment drove growth. Dong-A Pharmaceutical's first-quarter revenue increased 10.5% year-on-year to 188 billion won, and operating profit rose 22.1% to 20.6 billion won. By business segment, Bacchus sales grew by 11.0% to 60.6 billion won, while the OTC division surged 17.3% to 65.7 billion won. In contrast, the HTC segment, which includes health functional foods, recorded 49.3 billion won in sales, a slight decrease of 2.1% from the previous year.
Yongma Logis, a logistics-focused subsidiary, recorded revenue of 110.6 billion won, up 9.6% year-on-year, supported by the acquisition of new clients. However, operating profit fell 10.4% to 3.8 billion won due to higher cost ratios resulting from increased fuel and logistics material prices.
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ST Pharm Bio, a contract manufacturing organization (CMO) specializing in biopharmaceuticals, posted revenue of 18 billion won, down 5.7% from a year earlier, affected by client order schedules. As a result of the revenue decline and the resulting higher fixed cost burden, operating profit dropped 89.1% year-on-year to 200 million won. The company stated that order contracts are progressing as planned for the year, and expects quarterly fluctuations to be resolved moving into the second half of the year.
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