Samsung Biologics reports a profitable second quarterSamsung Biologics said Tuesday that it shifted to black in the second quarter from a year earlier, as costs decreased on the back of an improvement in factory utilization and increased sales.
The company posted a net profit of 52 billion won ($43.4 million) during the April-June period, swinging from a net loss of 13.4 billion won a year earlier, the company said.
Operating profit for the cited period was 81.1 billion, compared with a loss of 15.4 billion won a year ago, the company said. Sales also nearly tripled to 307.7 billion won.
The bio company attributed its sound business performance to utilization improvement at its three plants in Songdo, west of Incheon, which eventually led to increased sales.
Samsung Biologics said it is considering building a fourth plant following major deals.