Ace Bed(003800) said in a filing on Aug. 11 that its operating profit on a consolidation basis in the second quarter of this year was 16.623 billion won, down 1.7% from a year earlier. Revenue in the same period rose 10.9% to 84.792 billion won.
Cumulative revenue for the first half was 169.827 billion won, up 7.6% from a year earlier; operating profit was 29.43 billion won, up 1.4%; and net profit was 37.413 billion won, up 16.1%.
First-half bed revenue rose 7.2% to 151.6 billion won, accounting for 89.3% of total revenue. The average domestic unit price for beds was 2.014 million won, up 4.2% from 1.932 million won a year earlier.
Ace Bed said in its semiannual report, "We are developing new products, including mattresses with enhanced durability, with 931.43 million won in research and development expenses, equivalent to about 0.56% of first-half revenue," and "We are working to improve quality through manufacturing process improvements."