Humedix said Friday that its earnings turned around and has posted record-high sales in the fourth quarter of 2018 thanks to the growth of its flagship products.
Humedix's consolidated financial statement revenue for the fourth quarter of 2018 showed that the company’s total sale was 17.1 billion won ($15.2 million), a 20 percent increase from the same period last year. The company also recorded an operating profit of 4 billion won, up 39 percent from the same period last year.
Humedix expects their earning to increase in earnest this year as its sales, and operating profit rose 1 and 23 percent, respectively, when compared with the third quarter of 2018.
“Profitability improved significantly due to the increase in sales of flagship products in the aesthetic business division and the synergy effect with Panace, the company’s aesthetic medical equipment subsidiary,” the company said. “In particular, Panace achieved record sales of 2.4 billion won in the fourth quarter, reaching 9.4 billion won in annual sales and growing nearly twice as much as last year.”
“This year, we expect to see more drive for growth as we have many plans to see this through such as launching new products and strengthening sales and marketing,” Humedix CEO Chung Koo-wan said. “As we have succeeded in turning profitable, we will set a new record for stable sales growth starting from this year.”