Q2 Performance was In-line with Expectations
YONGIN, South Korea, July 31, 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 June 30, 2018.
Key Figures
Q2 2018(1)
Growth(1)
Total revenues
KRW 341.8 billion
+3.5%
Operating income
KRW 13.3 billion
(61.5%)
K-IFRS net income
KRW 2.7 billion
(89.9%)
(1) Results and percentages compare to equivalent 2017 period.
Financial Highlights
Delivered total revenues growth of 3.5% to KRW 341.8 billion (Q2 2017: KRW 330.2 billion); plasma products oversea sales increased 11.9% in Q2 2018.
Operating income decreased 61.5% to KRW 13.3 billion (Q2 2017: KRW 34.5 billion), primarily due to a dramatic increase in R&D expenses.
EC Huh, Ph.D., GC Pharma President commented:
"Our second quarter financial performance was in-line with expectations. This is a solid result, achieved amid continued investment in future innovation and growth engines."
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 updates 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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Source: prnasia