Samlip said on the 15th that its consolidation-based operating loss for the first quarter came to 4.3 billion won, swinging to a loss from a year earlier.
Operating profit, which was 16.1 billion won in the first quarter a year earlier, turned to a loss due to cost burdens and increased one-off expense. Revenue was 812.3 billion won, down 0.3% from a year earlier.
Samlip said overall profitability deteriorated as materials and supplies prices rose and the strong dollar persisted. In particular, production disruptions caused by the fire at the Siwha plant in Feb. and expenses for structural improvements such as overhauling on-site shifts were also cited as major reasons for the weak results.
Management signaled its commitment to accountability by buying back treasury shares. Chief Executive Do Se-ho of Samlip newly acquired 1,275 treasury shares through on-market purchases. Chief Executive Jeong In-ho also bought an additional 1,000 shares, increasing holdings to 1,091 shares.
A Samlip official said, "This treasury share purchase is aimed at boosting mid- to long-term growth prospects, including overseas expansion, and strengthening shareholder trust," adding, "We plan to focus on normalizing results by enhancing product competitiveness and continuing management efficiency and cost improvement efforts."