Efficiency improvement and pipeline progress remain top priorities
YONGIN, South Korea, April 27, 2018 /PRNewswire/ — GC Pharma (formerly known as Green Cross Corporation) (KRX: 006280), a South Korean biopharmaceutical company, today announced unaudited results for the three months ended March 31, 2018.
KRW 294.1 billion
KRW 14.5 billion
K-IFRS net income
KRW 18.6 billion
(1) Results and percentages compare to equivalent 2017 period.
Delivered total revenues growth of 6.8% to KRW 294.1 billion (Q1 2017: KRW 275.4 billion), driven mainly by strong performance across all businesses.
Operating income increased 5.7% to KRW 14.5 billion (Q1 2017: KRW 13.7 billion), primarily due to 0.9% lower cost of sales ratio and only 0.8% higher SG&A expense rate compare to equivalent 2017 period.
EC Huh, Ph.D., GC Pharma President commented:
"We delivered fairly strong top-line growth in the first quarter. I am pleased to see that our sales growth came from across our broad portfolio. Our priorities for the rest of 2018 remain unchanged: generating operational efficiencies and advancing our pipeline of protein therapies."
About GC Pharma
GC Pharma is a biopharmaceutical company that delivers life-saving and life-sustaining protein therapeutics and vaccines. Headquartered in South Korea, GC Pharma is the largest plasma protein product manufacturer in Asia and has been dedicated to quality healthcare solutions more than half a century. Green Cross Corporation updated its corporate brand as GC Pharma in early 2018. Green Cross Corporation remains the company’s registered, legal name.
This release includes forward-looking statements, which express the current beliefs and expectations of GC Pharma’s management. Such statements speak only as of the date on which they are made and the company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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