The stock price of Borak, a company specializing in food additives and active pharmaceutical ingredients, has hit bottom and is showing a significant upward trend. Expectations for improved performance have increased amid a prolonged period of stock price adjustment.
As of 9:25 AM on the 2nd, Borak's stock price is trading at 1,149 KRW, up 6.69% from the previous week's closing price. It rose to 1,184 KRW early in the session before slightly pulling back.
Borak is a long-established company founded in 1959. It produces food additives such as pineapple essence, Borak CMC calcium, and saccharin sodium, supplying them to major food companies.
The stock price had been under adjustment for a long time due to poor profitability. In the long-term trend, it peaked at 4,775 KRW in June 2018 and has been on a downward path for six years. It fell to 925 KRW last month but is rebounding due to improved performance in the first half of the year.
In the first half of this year, Borak recorded sales of 23.2 billion KRW and an operating profit of 700 million KRW. While sales remained flat compared to the same period last year, operating profit increased more than threefold. Thanks to the recent trend of increased exports by domestic food companies, performance is expected to continue improving.
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