SEOUL– Poongsan Corp. on Thursday reported its second-quarter net profit of 67.7 billion won (US$52.1 million), down 16.2 percent from a year earlier.
The company said in a regulatory filing that operating profit for the April-June period fell 15.8 percent on-year to 89.6 billion won. Revenue increased 25.7 percent to 1.16 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 66 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency