Gyeongnam Pharmaceutical Reports Operating Profit of 2.1 Billion KRW Last Year... Returns to Profitability

[Asia Economy Reporter Minji Lee] Kyungnam Pharmaceutical announced on the 19th that it recorded an operating profit of 2.1 billion KRW last year, turning to a surplus. Sales increased by 58% to 70.9 billion KRW. Net loss continued at 5.6 billion KRW following last year’s deficit.

The company explained, “Sales growth of major products such as Lemona and Jahasaengryeok, as well as increased sales of new products,” and added, “Derivative valuation losses were reflected in financial expenses, resulting in increased loss from continuing operations before income tax and net loss for the period.”