Huons Global, 3Q Sales 145.4 Billion KRW and Operating Profit 19.1 Billion KRW

[Asia Economy Reporter Chunhee Lee] Huons Global, the holding company of Huons Group, announced on the 15th through its quarterly report that it recorded sales of 145.42654 billion KRW and operating profit of 19.11577 billion KRW based on consolidated financial statements for the third quarter. This represents a 6% increase in sales and a 21% decrease in operating profit compared to the same period last year.

Huons Global evaluated, "The reason for the performance increase is that all business divisions of its subsidiary Huons showed balanced growth, achieving the highest quarterly sales ever, and Humedics also continued strong performance in the aesthetic business, resulting in external growth."

The subsidiary Huons set a record for the highest quarterly sales in the third quarter. Huons also announced through its quarterly report on the same day that it recorded sales of 112.25667 billion KRW and operating profit of 14.73441 billion KRW based on consolidated financial statements for the third quarter. Sales increased by 6% and operating profit decreased by 4% compared to the same period last year. Based on separate financial statements, sales were 103.7552 billion KRW and operating profit was 13.82889 billion KRW, both increasing by about 10% compared to the same period last year. Sales exceeded 100 billion KRW for two consecutive quarters.

Huons viewed that its core businesses, prescription drugs and contract manufacturing, grew by 7% and 12% respectively, leading to the highest quarterly sales record. Strengthening the ophthalmology business by organizing sales and marketing divisions and expanding its own product lineup was effective, and increased orders were due to rising demand for eye drops.

Yoon Sung-tae, Vice Chairman of Huons Global, said, “The Huons Group has continuously created results through bold challenges and active investments,” and added, “We will not be satisfied with the present but will steadily continue the upward trend by strengthening external growth, profitability, and internal management through discovering new businesses.”