Dexter Studio continued its upward trajectory with its best performance yet last year.
On February 15, Dexter Studio announced that the company had earned KRW 26 billion in sales and KRW 5 billion in operating profit in 2015. In 2015, sales increased 39% compared to the previous year, and reached the highest mark in Dexter Studio’s history. Meanwhile, operating profit margin stood at 19.25%, which made Dexter Studio one of the most profitable companies in the industry.
An official at Dexter Studio explained, “Our entry into the Chinese market, which we have been building up since our company was first created, has now entered a steady growth phase. This is due to the fact that we’ve been able to secure contracts with higher margins by utilizing our reputation as a leader in VFX technology in the Chinese market.”
He added, “Ultimately, companies that work on profitable projects with efficient internal processes will rise to the top in the Chinese VFX market as well.”
In particular, “Monkey King 1”, “The Taking of Tiger Mountain”, “Chronicles of the Ghostly Tribe”, and “Young Detective Dee: Rise of the Sea Dragon”, all of which Dexter Studio worked on as the main VFX vendor, have become some of the most successful movies in Chinese box office history. For “Monkey King 2,” which also featured Dexter Studio as the VFX vendor, recorded a cumulative box office profit of CNY 423.9 million (KRW 78 billion) over its first three days, and dominated theaters in China during the recent Chinese New Year holiday.
Dexter Studio CEO Kim Yong-hwa said, “From the very beginning, Dexter Studio has focused on securing great technology through R&D and entering the Chinese market. Thanks to our commitment, we’ve been able to establish ourselves as the best VFX company in Asia. With our partnerships with investors in China and networks we’ve established over the years, this year will give us more opportunities to secure VFX contracts and expand our business into a variety of other related fields, including VR.”
Asia Business Daily : http://view.asiae.co.kr/news/view.htm?idxno=2016021511302447237