[Edaily Reporter Park Jung-Soo ] WooGene B&G CO., Ltd(018620)posted its highest-ever operating profit for the first half of the year, driven by expanded overseas exports and increased sales of high-value-added vaccines.
WooGene B&G CO., Ltd announced on the 18th that it posted consolidated revenue of 29.8 billion won and operating profit of 2.1 billion won in the first half of this year. These figures represent increases of 6% and 231%, respectively, compared to the same period last year. On a non-consolidated basis, the company reported revenue of 16.0 billion won, operating profit of 1.5 billion won, and net income of 1.4 billion won.
This improvement in performance was driven by increased overseas exports—primarily to major global clients such as C.P. Vietnam—and expanded sales of high-value-added vaccines, including the Porcine Epidemic Diarrhea (PED) vaccine “PED-M.” The company explained that improvements in its cost structure through operational efficiency also contributed to the enhanced profitability.
OSP Co., Ltd, a subsidiary specializing in premium pet food, also contributed to the improved performance by posting first-half consolidated revenue of 14.1 billion won and operating profit of 900 million won. OSP Co., Ltd plans to expand its penetration of overseas markets in the second half of the year by leveraging its private label (PB) brands.
The company is also expanding its next-generation animal vaccine business. WooGene B&G CO., Ltd was recently selected as a core company for the “Jeonbuk Special Self-Governing Province Next-Generation Veterinary Drug Regulatory Free Zone,” a project with a total budget of 26.4 billion won, and is currently developing and validating a farm-customized autogenous vaccine platform. The company plans to establish a foundation for the commercialization of customized vaccines to combat rapidly mutating diseases such as porcine epidemic diarrhea and swine influenza.
Overseas, the company has begun local clinical trials in Indonesia to secure marketing authorization for its aquatic vaccine, “Immunis MegaVac.” The company plans to expand its sales channels into Southeast Asian markets, starting with Indonesia and moving on to Thailand and Vietnam.
A WooGene B&G CO., Ltd official stated, “We achieved our highest-ever half-year operating profit thanks to strong overseas exports and the stabilization of OSP Co., Ltd’s profitable structure,” adding, “We will continue to grow our earnings while enhancing our corporate value through next-generation animal vaccines and expansion into overseas markets.”