Paratech, a specialized fire protection equipment company, announced on the 14th that its sales revenue, operating profit, and net income all showed growth in the first half of this year compared to the previous year, successfully turning a profit compared to the same period last year.
According to Paratech's semi-annual consolidated report, sales revenue reached 144.8 billion KRW, marking a 35% growth compared to 106.7 billion KRW in the same period last year. Both operating profit and net income turned positive, recording 3 billion KRW and 1.4 billion KRW respectively.
On a separate basis, sales revenue also increased by 17% to 114 billion KRW from 97.2 billion KRW in the previous year’s same period, with operating profit and net income growing to 2.4 billion KRW and 1.1 billion KRW respectively.
Paratech’s fire protection equipment division achieved strong first-quarter results through increased sales based on large-scale new orders and cost reductions. With new orders from major domestic corporations reflected in sales, the fire protection equipment segment recorded 104 billion KRW in sales, accounting for 71.6% of total revenue. The company explained that it carries out product manufacturing and fire protection equipment installation based on approximately 60 patents it holds, ensuring safety.
Additionally, as sprinklers have gained significant attention as a preventive measure against electric vehicle fires, sales in the sprinkler manufacturing segment are expected to continue growing.
A Paratech representative stated, “Despite rising raw material prices, we have achieved remarkable growth in sales and operating profit compared to the same period last year by reducing costs while producing and developing high-quality products. Through continuous research and development, we will develop new products that ensure safety from fire risks and grow into the leading company protecting safety with fire protection facilities, fire extinguishers, sprinklers, and more.”
Meanwhile, starting December 1, the “Act on Installation and Management of Fire Protection Facilities” will be amended to expand the mandatory installation of fire extinguishers in vehicles from those with 7 or more seats to those with 5 or more seats. It is reported that related companies and the industry have been receiving many inquiries about fire extinguisher products from Paratech, which manufactures vehicle fire extinguishers.
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