SEOUL – Samsung Biologics Co. reported a decrease in its fourth-quarter net income for the year, as detailed in a regulatory filing made public on Wednesday. This development marks a shift in the company’s financial trajectory compared to the overall annual performance.
According to Yonhap News Agency, The company’s net income for the fourth quarter stood at 290.7 billion won (US$217.4 million), which is a 21.4 percent decrease from the same period in the previous year. However, the operating profit for the quarter showed an increase, totaling 350 billion won compared to 312.8 billion won a year ago. Revenue also saw an upward trend, with an 11.2 percent rise, reaching 1.07 trillion won. Notably, the operating profit was 10.5 percent higher than the average estimate provided by Yonhap Infomax, a financial data firm affiliated with Yonhap News Agency. The estimated net profit figures were not available in the report.