Emro Q3 net profit jumps 21% on business expansion

Emro, a supply chain management software company in Korea, said Monday its third-quarter net profit rose 21 percent from a year ago on expansion of clients and business.

According to the company’s regulatory filing, its net profit stood at 3.98 billion won ($3.3 million) in the July-September period.

Its operating income jumped 42 percent on-year to 4.04 billion won, and revenue expanded 11 percent to 11.2 billion won in the cited period.

Emro said its net profit grew thanks to the increasing number of clients in cloud services and an expanded range of AI-based digital software services.

The cloud service, which is designed to provide large companies’ know-how in supply chain management, has garnered many small and mid-sized business clients, amid expansion of off-contact service, the company said.

The service has already secured 35 new business clients in the third-quarter, 12 up from last year. It is expecting seven more clients in the following quarter to bring its total number of clients to 42 by the end of this year.

Emro has expanded its AI-based digital software services by incorporating cloud computing.

It is currently offering the services to major companies such as Hyundai Motor, LG Electronics, LG Chemical, Hanwha Engineering & Construction and Hanwha Solutions Chemical Division. Emro plans to carry out more than 20 projects by the end of this year.

Listed on the Kosdaq in August, Emro’s stock price increased 6.1 percent to 39,700 won Friday from a week earlier.

By Byun Hye-jin (hyejin2@heraldcorp.com)