April 20, 2024

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[THE INVESTOR] Samsung BioLogics posted an operating income during the third quarter of the year, shifting from an operating loss a year earlier, the company said on Oct. 25.

Operating income reached 21 billion won (US$18.60 million) during the July-September period, swinging from an operating loss of 12.9 billion won a year earlier, the company said in a regulatory filing.

Sales more than doubled to 128 billion won from a year earlier, while it continued to suffer a net loss of 31.7 billion won.

The company attributed the switch to black its to ongoing operations at its second plant.

Samsung BioLogics is at the forefront of Samsung Group’s quest for new growth engines. Samsung BioLogics is 52.1 percent owned by Samsung Group’s de facto holding company Samsung C&T and 47.8 percent controlled by Samsung Electronics.

By Alex Lee and newswires (alexlee @heraldcorp.com)