Oseong Advanced Materials Reports Net Profit of 10.8 Billion KRW, Up 347% Year-on-Year
Oseong Advanced Materials announced on the 28th through a disclosure of changes exceeding 30% in sales or profit structure that last year, sales amounted to 105 billion KRW, operating profit was 12.7 billion KRW, and net profit was 10.8 billion KRW. Net profit increased by 347.2% compared to the previous year.
A company representative stated, "Following 2022, the company has continued stable performance by achieving sales in the 100 billion KRW range and profits exceeding 10 billion KRW last year as well," adding, "Sales and profits in major businesses increased compared to the previous year, but sales and operating profit slightly decreased by 10.4% and 1.6%, respectively, due to the temporary reflection of sales from the subsidiary's commercial space allocation in 2022."
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Meanwhile, Oseong Advanced Materials has been steadily repurchasing its own shares since 2020 to enhance shareholder value. At the end of 2022, it also canceled all 2.65 million shares. Additionally, the company purchased 2.98 million shares through a trust contract on the 20th, which is expected to be linked with the current government's value-up program.
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