Kolon ENP (formerly Kolon Plastics) announced on the 4th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 9.96 billion KRW, a 38.0% increase compared to the same period last year.
Sales reached 122.8 billion KRW, up 9.3% from the same period last year. Compared to the previous quarter, operating profit and sales increased by 2.3% and 1.5%, respectively.
Despite weak global demand, the increase in sales of high value-added products such as polyoxymethylene (POM) medical products, which began commercial supply in the third quarter, drove the performance. Additionally, the company explained that both sales and profitability improved compared to last year due to improvements in distribution structure and optimization of the production system.
Kolon ENP is focusing on expanding orders for medical-exclusive products. The company stated, "We plan to continuously enhance profitability by expanding our high value-added product portfolio, including POM (polyacetal) compound products and high-rigidity POM."
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