Yuhan Yanghaeng Q1 Operating Profit Soars 1,194% YoY to 13.9 Billion Won... Base Effect

[Asia Economy Reporter Seo So-jeong] Yuhan Corporation announced on the 29th that its consolidated sales for the first quarter of this year amounted to 379 billion KRW, and operating profit was 13.9 billion KRW, representing increases of 21% and 1194%, respectively, compared to the same period last year.

Net profit for the same period was 20.1 billion KRW, down 82.6% from the previous year.

Among pharmaceutical businesses, prescription drug (ETC) sales in the first quarter reached 222.1 billion KRW, up 14.6% from the same period last year. Over-the-counter drug (OTC) sales were 36.8 billion KRW, an increase of 22.7% compared to the previous year. The daily necessities and health business recorded sales of 29.9 billion KRW, up 11.1% year-on-year. Overseas business sales, including exports and Yuhan Chemical, rose 72.5% to 42.7 billion KRW compared to the same period last year.

A Yuhan Corporation official explained, "Operating profit decreased compared to the previous year in the first quarter of last year due to the impact of COVID-19," adding, "This year, the base effect and the reflection of technology export income in the first quarter contributed to the improved performance."