GC Labcell Announces Record-High Results... Operating Profit Surpasses 10 Billion KRW

GC녹십자랩셀 Logo (Photo by GC녹십자랩셀)

[Asia Economy, Lee Chunhee] GC Labcell has announced its highest-ever quarterly performance.

On October 25, GC Labcell disclosed its provisional consolidated financial results for the third quarter of this year, reporting sales of 38.3 billion KRW and an operating profit of 10.3 billion KRW. Compared to the same period last year, sales increased by 60%, while operating profit surged by 253%.

Both sales and operating profit represent all-time highs for GC Labcell, and this is the first time the company’s quarterly operating profit has exceeded 10 billion KRW. The operating margin reached 27%, an improvement of 15 percentage points from the same period last year. The company stated, “Revenue from technology transfer fees, which began to flow in in earnest, drove the strong performance.” They added, “Although we increased R&D expenditures as an investment in the future, we achieved economies of scale by expanding our business.”

A GC Labcell representative said, “We will continue to focus not only on generating mid- to long-term synergies through the merger, but also on improving short-term profitability.”

Meanwhile, GC Labcell will merge with GC Cell and change its corporate name to GC Cell as of November 1. The listing of new shares resulting from the merger is scheduled for November 17.