CNR Research Reports 12.7 Billion KRW in 3Q Sales and 1.6 Billion KRW Operating Profit

[Asia Economy Reporter Chunhee Lee] Clinical Research Organization (CRO) C&R Research announced on the 14th that its third-quarter revenue reached 12.7 billion KRW, marking an 11.5% increase compared to the same period last year and setting a record high quarterly revenue.

C&R Research's third-quarter revenue this year was 12.69412 billion KRW, operating profit was 1.64259 billion KRW, and net profit was 1.438 billion KRW. These figures represent growth rates of 11.7%, 46.5%, and 45.9%, respectively, compared to the same quarter last year, achieving the highest quarterly revenue.

On a cumulative annual basis, revenue reached 36.27776 billion KRW, an 11.1% increase compared to the same period last year, marking a record high performance. However, operating profit decreased by 24.6% to 3.71554 billion KRW.

The company explained that "revenue from clinical trials for regulatory approval, totaling 24.5 billion KRW this year, drove the sales growth." It also stated that new orders related to the company's future growth are also reaching record highs. C&R Research set its order target at 75 billion KRW this year, following 51.2 billion KRW in 2020 and 60.6 billion KRW last year. However, it reported that it has already exceeded the target by securing 82.5 billion KRW in orders as of last month.