Samsung Biologics Co.,Ltd. (207940.KS), a contract development and manufacturing organization (CDMO), on Tuesday reported a sharp increase in profit for the third quarter, driven by strong sales growth across all business units.
Profit before tax rose to KRW 767 billion from KRW 291 billion a year earlier.
Operating profit increased to KRW 729 billion from KRW 339 billion in the prior year.
Net profit rose to KRW 575 billion from KRW 264 billion last year.
Revenue for the quarter grew 40% to KRW 1.66 trillion from KRW 1.187 trillion in the previous year.
The company said its planned spin-off to separate the CDMO business from its subsidiary remains on track for completion in November this year.
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