[THE INVESTOR]
Hanmi Pharmaceutical’s second-quarter operating profit is projected to grow significantly, while sales will likely suffer a decline, industry data showed on July 11.
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.
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Hanmi Pharmaceutical |
“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 (
sahn@heraldcorp.com)
