ITCEN reported that its sales in the first half of this year reached 2.17 trillion won, a 74% increase compared to the same period last year, and operating profit increased by 597% to 19.9 billion won. Net profit also turned positive at 14.1 billion won.
In the second quarter alone, sales increased by 96% year-on-year to 1.26 trillion won, and operating profit surged by 684% to 16.1 billion won. The company explained that this was the best quarterly performance ever.
ITCEN is an IT service company with subsidiaries such as Comtex Systems, Ssangyong Information & Communication, cybersecurity company Secusen, and the retail metal trading company Korea Gold Exchange.
ITCEN attributed the growth in performance in the second quarter to the increase in international gold prices and transactions leading to higher gold-related sales. Despite the off-season, the IT business division also turned a profit.
The company stated that with the improved performance in the second half, it expects even greater growth. It mentioned that gold-related sales in the web3 gold trading platform business sector are expected to continue rising due to the trend of global central banks’ gold purchases and events like wars.
Furthermore, they mentioned that the BDX (Busan Digital Asset Exchange), launched in May, is progressing smoothly towards its goal of opening by the end of the year, signing agreements for physical asset-linked businesses such as issuing Japanese Pegango coins through its subsidiary Kredar.
An ITCEN official emphasized that the nature of the IT business tends to concentrate performance in the second half of the year, and with the steady progress of new projects like BDX and subsidiaries’ growth, good performance is expected this year. They emphasized their commitment to strengthening internal accounting systems to restore market trust and maximize shareholder value through growth.