April 16, 2024

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[THE INVESTOR] Medytox would post record earnings from the fourth quarter last year, said Mirae Asset Daewoo on Jan. 24, maintaining a “buy” recommendation and raising the target price to 720,000 won (US$671.64) from 610,000 won.

Its revenue hiked 27.8 percent on-year to 51.1 billion won and operating profit by 14.1 percent to 25.2 billion won, satisfying market consensus, said analyst Kim Tae-heui.

Its botulinum toxin exports have been slow in the third quarter due to inventory issues, but surged 75 percent to record 21.3 billion won, and domestic sales hiked 50 percent as its new factory begins operations, estimated the analyst. Sales of fillers, though, have been slightly slow both at home and overseas, she added.

Rise in manufacturing capacity will boost domestic sales and exports by over 20 percent. The rise in exports will further improve its profitability, noted Kim forecasting that its revenue this year will increase 22.5 percent on-year to 219.7 billion won and operating profit by 28.4 percent to 115.1 billion won. 

By Hwang You-mee (glamazon@heraldcorp.com)