According to a market data provider FnGuide, Hanmi’s operating profit is expected to grow fourfold in the second quarter on-year to 10.8 billion won (US$ 9.4 million). However, sales will fall 3.56 percent to 235 billion won.
Analysts say lower-than-expected growth from Hanmi subsidiaries such as Beijing Hanmi and Hanmi Fine Chemical will cause the profit decline.
“Due to China’s overall markdown in drugs, Beijing Hanmi has yet to see increased sales,” said Kwak Jin-hee, analyst of Eugene Investment & Securities.
Projections for Hanmi were in contrast with those for its rivals Yuhan and Green Cross.
Yuhan’s operating profit is forecast to see a 2.34 percent decline to 25 billion won, while sales will stand at 306 billion won on the back of a 12.58 percent increase.
Green Cross’ operating profit is expected to fall 10.6 percent to 27 billion won, while sales will rise nearly 13 percent to 304 billion won.
By Ahn Sung-mi (email@example.com)