Huons Global's Q3 profits soar

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Huons Global's Q3 profits soar

Published: 14 Nov. 2023, 18:10

LEE JAE-LIM
[email protected]

Huons Global's office building in Pangyo, Gyeonggi [HUONS GLOBAL]

Huons Global posted a 75 percent on-year surge in operating profit to log 31.9 billion won ($24 million) in the third quarter. The growth was attributed, in particular, to well-rounded growth from subsidiaries such as Huons, Humedix and HuM&C, the biopharmaceutical company said in a regulatory filing released on Tuesday.

Revenue rose 13.8 percent on year during to 190.6 billion won.

Kosdaq-listed Huons Global is the parent company of Huons, Humedix, HuM&C and Huons BioPharma.

Huons, a health care and contract bio-manufacturing company, reported an operating profit of 15 billion won, an on-year increase of 638 percent. Revenue rose 12 percent to 138.2 billion won following strong sales of injectable drugs in the U.S., which jumped 97 percent on year to 6.1 billion won.

Humedix, an aesthetics subsidiary, posted operating profit of 11.4 billion won, an on-year jump of 45 percent. Revenue rose 24 percent to 39.7 billion won. Growth was attributed to a surge in demand for beauty fillers from the Chinese and South American markets.

HuM&C, a cosmetic tools subsidiary, logged an operating profit of 1.5 billion won, which is up 327 percent on year. Revenue jumped 22 percent to 12.6 billion won. The firm's participation and consistent marketing as the Covid-19 pandemic dwindled was reflected in the revenue growth.

Huons BioPharma, a botulinum toxin supplier, saw 64 percent growth to post operating profits of 2.5 billion won. Revenue grew 37 percent to 9.2 billion won.

BY LEE JAE-LIM [[email protected]]