April 26, 2024

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Its revenue in the period rose 12.2 percent on-year to 224 billion won but operating profit fell 32.5 percent to 6.4 billion won, slightly missing market consensus, said analyst Seo Yeong-hwa.

Its domestic operations were burdened by fixed costs while sales declined. In China the profit ratio was dented by costs for adding personnel and depreciation following the manufacturing facility expansion, according to the analyst.

As both operations continue to be weighed down by fixed costs, it will not be easy to improve its margins, she added, lowering the earnings per share by 11.3 percent. 

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