CP SYSTEM Posts KRW 2.1 Billion Operating Profit, Up 279% YoY
CP SYSTEM announced in a filing on November 11 that its operating profit for the third quarter of this year, on a consolidated basis, was approximately KRW 2.1 billion, up 278.9% year over year.
During the same period, revenue increased 37.2% to approximately KRW 6.3 billion, while the third-quarter operating margin stood at 33.1%.
Cumulative revenue for the first three quarters was approximately KRW 18.4 billion, up 24.4% year over year, while cumulative operating profit surged 160.0% to approximately KRW 4.5 billion. Net income for the same period also rose 126.9% to approximately KRW 3.6 billion. The main driver of this growth was increased sales of high-value-added products for advanced industries, including semiconductors and secondary batteries.
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A CP SYSTEM representative said, "Fueled by demand for facility investment in downstream advanced industries, sales of our flagship products, including the G-Clean Chain, performed well, enabling us to achieve both revenue growth and improved profitability in the third quarter and on a cumulative basis." The representative added, "We will significantly strengthen our production capacity by expanding our second plant and step up supplies to global customers to sustain our growth."
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