Huons Global said Tuesday the company and its subsidiaries recorded 93.2 billion won ($82.4) in sales in the second quarter of this year, up 13.6 percent from the same period of 2017.
“Huons Global's record-high earnings in the second quarter were driven by sales growth from its subsidiaries such as Huons, Hubena and Huons Medicare,” the company said.
The company also registered 17.9 billion won in operating profit in the same period, a 14.6 percent increase from a year ago, while recording 16.4 billion won in net profit, up 42.3 percent. Aside from its subsidiaries, Huons Global alone posted 6.3 billion won in sales, 2.5 billion in operating profit and 2.3 billion won in net profit.
The parent company plans to continue growth in its subsidiaries in the second half of the year, as it is expecting to complete phase 3 clinical trials for Hutox, its botulinum toxin (BTX), in treating forehand wrinkles and its second plant to manufacture the BTX.
Also, the company aims to expand the export of Hutox actively and has already secured export contracts worth 190 billion won from Brazil, Iran, Russia and Europe.
To match global demands, Huons Global is building a second factory, which is five times more productive than its first plant, providing a stable supply of its BTX. The company expects to complete the construction of the factory in the second half year. Once completed, the first and second factories will be able to produce about six million vials annually.
“The growth rate of subsidiaries, including Huons, has accelerated, resulting in record sales in the second quarter of this year,” Huons Global Vice Chairman Yoon Sung-tae said. “We will try to maintain our growth momentum in the latter half of this year.”