Dx&Vx Projected to Record All-Time High Earnings This Year with KRW 13 Billion in Sales in First Half
Dx&Vx announced that it recorded KRW 13 billion in sales and KRW 1.09 billion in operating profit in the first half of this year based on the consolidated financial statements.
A business turnaround was observed in just half a year after the new management joined the company, with sales in the first half exceeding last year’s sales of KRW 7.4 billion and the operating profit recording a surplus in the first and second quarters. As earnings continue to improve, it is expected that the company will record all-time high earnings this year.
The newly established Bio and Healthcare Division was the key driver behind its business growth. A steady rise is expected in the second half of the year in view of the reorganization of existing business and the synergy with COREE’s global networks.
Infant and toddler healthcare products planned and developed by the Dx&Vx Microbiome Research Institute are being sold in over 12,000 baby stores and online stores in China with great success. As new products are continuously added to the lineup, the distribution channels via both domestic and foreign partnerships are expanding. Accordingly, the Bio and Healthcare Division is expected to continue to grow.
Dx&Vx heavily invests in research on advanced technologies and developing new products. It has been working closely with leading domestic and foreign research institutes to research and commercialize frontier technology. The company was selected by the government to jointly build an AI-based augmented mRNA vaccine platform with Hanyang University. Also, it is conducting immune cell profiling research to develop next-generation vaccines with COREE Group.
In the second half of the year, the company plans to begin offering Contract Research and Manufacturing (CRAM) services using its own genomic technology. In light of growing public awareness of preventing infectious diseases in the era of endemics, Dx&Vx aims to increase its profits by launching infection prevention products made with postbiotic antibacterial substances.
Park Sang-tae, CEO of Dx&Vx, said, “We entered an earnings growth phase by exceeding last year’s sales in the first half of this year. Our annual performance this year is expected to reach an all-tie high. […] We will emerge as a bio and healthcare company that provides personalized total solutions through seamless integration of various business areas based on profitability and sustainability of our businesses.”
Source: Money Today