Yuhan Corporation Reports 1.7758 Trillion KRW in Sales Last Year... Operating Profit Down 26%

Yuhan Corporation Headquarters Building Exterior [Photo by Yuhan Corporation]

[Asia Economy Reporter Chunhee Lee] Yuhan Corporation continued its sales growth last year, recording sales of 1.7758 trillion KRW. However, profits declined due to increased research and development expenses and decreased license revenue.

Yuhan Corporation announced its preliminary consolidated operating results for last year on the 23rd. Last year's sales amounted to 1,775,846,940,000 KRW, a 5.2% increase compared to the previous year. On the other hand, operating profit was 36,028,970,000 KRW and net profit was 90,592,530,000 KRW, down 25.9% and 8.6%, respectively.

In the fourth quarter of last year, on a consolidated basis, sales were 450.5 billion KRW, operating profit was 17.5 billion KRW, and net profit was 36.1 billion KRW, representing increases of 6.3%, 268.9%, and 129.3% compared to the same period last year.

Despite overall sales growth driven by the parent company and subsidiaries, Yuhan Corporation explained the sharp decline in profits as due to "increased research and development (R&D) costs and decreased license revenue."