SEOUL – Hanwha Aerospace Co. announced a significant drop in net profit for the second quarter, despite increases in revenue and operating profit.
According to Yonhap News Agency, the second-quarter net profit fell by 46.6 percent to 159.9 billion won ($115.5 million) compared to the same period last year. However, operating profit for the April-June period saw a substantial increase of 356.5 percent to 358.8 billion won, while revenue rose by 46 percent to 2.78 trillion won. These figures surpassed market expectations, with analysts surveyed by Yonhap Infomax originally predicting a lower net profit of 118.6 billion won.