Jonggeundang Q2 Sales 429.6 Billion Won Increased by 11.6% YoY

[Financial News] It was found that Jonggeundang's Q2 sales increased by more than 10% compared to the previous year. Jonggeundang announced through a disclosure on the 1st that its standalone sales for Q2 were 429.6 billion won, operating profit was 22.2 billion won, and net profit was 19.5 billion won. Sales increased by 11.6% compared to the same period last year, but operating profit decreased by 21.9%. The decrease in operating profit is due to the increase in research and development (R&D) expenses.
The cumulative performance for the first half of the year showed a similar trend. Jonggeundang's cumulative sales from January to June were 828.7 billion won, an increase of 12.2% compared to the same period last year, but operating profit was 35 billion won, a decrease of 36.5%.
A representative of Jonggeundang said, "The operating profit was sluggish due to the increase in research and development expenses as the antibody-drug conjugate (ADC) anticancer new drug 'CKD-703' entered clinical trials in the United States," and added, "Sales increased due to the continuous growth of existing and new products and the receipt of new drug milestones."

vrdw88@fnnews.com Kang Joongmo Reporter