[Click eStock] "Cosmax NBT, Profitability Improvement in the Second Half of This Year"

[Asia Economy Reporter Park Hyungsoo] Hana Financial Investment forecasted on the 14th that Cosmax NBT will successfully turn a profit this year. They newly issued a 'Buy' investment rating and a target price of 15,900 KRW.

Kim Doohyun, a researcher at Hana Financial Investment, explained, "Cosmax NBT recorded sales of 73 billion KRW and an operating profit of 100 million KRW in the second quarter," adding, "Sales exceeded estimates, but the profitability improvement was somewhat disappointing."

He continued, "Sales through online and home shopping channels grew by more than 25%," and added, "In the second half of this year, steady growth is expected from immune-related product lines and the launch of new individually recognized raw materials."

Researcher Kim analyzed, "The quarterly performance growth trend will continue in the second half of this year," and estimated, "Sales of 291.5 billion KRW and operating profit of 6 billion KRW will be achieved this year."

He emphasized, "Profitability improvement is expected due to increased utilization rates from securing new clients in the second half," and added, "Considering that the domestic and Australian subsidiaries' performances are improving faster than expected, we expect to successfully turn a profit."

Researcher Kim also stated, "The Australian subsidiary significantly reduced its deficit as the volume of shipments to China from major clients increased."