Woojin B&G's Q1 Operating Profit Soars 363%... "Surpasses Last Year's Total Profit"

Woojin B&G, a company specializing in veterinary pharmaceuticals, recorded an operating profit of 1.03 billion won in the first quarter alone, matching the total profit it made for the entire previous year.

According to Woojin B&G, its first-quarter operating profit reached 1.03 billion won, representing a nearly 400% surge compared to 200 million won in the same period last year, and coming close to last year's total profit of 1.07 billion won.

First-quarter sales amounted to 8.2 billion won, a 28.5% increase from 6.4 billion won in the first quarter of last year. Net profit for the period was 640 million won, turning from a deficit of 70 million won in the same period last year to a surplus.

A Woojin B&G representative stated, "Overseas exports of the Porcine Epidemic Diarrhea Vaccine (PED-M) and domestic vaccine sales increased significantly. Overall export performance also rose by 30% compared to the previous year. In contrast, the cost of goods sold ratio improved markedly, leading to a noticeable improvement in operating profit."

In addition, with the launch of its new business, the company is diversifying export destinations by supplying its self-developed pet probiotic 'Dr. Tummy' to Singapore and New Zealand, and expects export performance to exceed 10 billion won.

In particular, Woojin B&G is receiving attention after Lee Jaemyung, the presidential candidate of the Democratic Party of Korea, announced customized pledges for the 15 million pet owners, including easing the cost of pet care, as one of his top ten campaign pledges.