SEOUL, SOUTH KOREA — Hyosung TNC Corp. announced a substantial rise in its second-quarter net profit, recording 51.8 billion won (US$37.3 million), a 161.4 percent increase from the previous year.
According to Yonhap News Agency, the company's operating income for the April-June period reached 84.6 billion won, marking a 31.2 percent increase from last year. Total sales also grew by 2.8 percent to 1.98 trillion won. These results surpassed market expectations, with the average net profit estimate by analysts being 50.9 billion won, as surveyed by Yonhap Infomax, the financial data arm of Yonhap News Agency.