[EQUITIES] Shinhan Investment forecasts Daewoong Pharmaceutical to post earnings decline in Q2

[THE INVESTOR] Shinhan Investment expects Daewoong Pharmaceutical’s second quarter operating profit to fall below market estimates, with the figure reaching 9.2 billion won (US$ ) that reflects a 43.7 percent downturn on-year.

Sales are expected to decline 4.2 percent to 194 billion won, mostly due to increased expenses, including those involved with research and development, which are expected to reach 26.3 billion won. The figure reflects a 2 billion won increase, on-year, Shinhan said. 

In the third quarter, the brokerage said Daewoong would post sales of 199 billion won to reflect a 7 percent fall, while sales fall 27.8 percent to 11.1 billion won on-year.

By Kim Ji-hyun (jemmie@heraldcoro.com)