Tire mold manufacturing and sales company Dynamic Design announced on the 13th that its consolidated cumulative sales for the half-year amounted to 34.691 billion KRW, an increase of 2.463 billion KRW compared to the same period last year. Operating profit and half-year net profit recorded surpluses of 179 million KRW and 5.788 billion KRW, respectively.
On a separate basis, the company also achieved sales of 21.655 billion KRW, operating profit of 370 million KRW, and half-year net profit of 8.495 billion KRW, continuing the profit trend from the first quarter of this year, with both consolidated and separate half-year business results showing profits.
The separate half-year net profit of 8.495 billion KRW includes a convertible bond valuation gain of 7.75 billion KRW and a bad debt allowance reversal of 1.4 billion KRW.
A company representative stated, “We strengthened our fundamentals through cost efficiency measures in 2021, and since 2022, we have been actively conducting marketing activities such as steady facility investments, productivity improvement efforts, collaboration with clients on new product development, and signing NDAs (Non-Disclosure Agreements) for major technology projects and approvals.”
They added, “All employees are continuously engaging in cost reduction and operational efficiency activities to make this year the first year of turning a profit. We are fully committed to improving profitability through production efficiency and expanding high value-added order activities.”
Furthermore, they revealed, “The local tire mold factory in Indonesia, established in May 2022 as a strategic measure to secure global competitive advantage, is scheduled to be completed in the second half of 2024, and preparations will be finalized to commence full-scale production within this year.”
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