April 27, 2024
Economy
Listed firms’ profits likely to rise 23% in Q1
[THE INVESTOR] The combined operating profit of listed firms in South Korea is expected to rise 23 percent on-year in the first quarter of this year, industry survey showed on April 4.
According to the survey by industry tracker FNGuide, the combined operating profit of listed firms is forecast to stand at 41.5 trillion won (US$37.20 billion) for the January-March period, compared with 33.6 trillion won for the same quarter last year. In particular, the combined net profit of technology firms, including Samsung Electronics and SK hynix, is expected to jump 80.73 percent on-year to 13.4 trillion won, the survey showed.
Samsung and SK hynix are likely to post stronger profits during the quarter as sales growth of semiconductors will drive their bottom lines. Samsung is predicted to post a first-quarter operating profit of 9.3 trillion won, up 39.37 percent from the same quarter last year.
However, Hyundai Motor, which is grappling with weaker sales at home and abroad, is expected to see its first-quarter operating profit fall 2.95 percent on-year to 1.3 trillion won, the survey showed.
By Alex Lee and newswires (alexlee@heraldcorp.com)
According to the survey by industry tracker FNGuide, the combined operating profit of listed firms is forecast to stand at 41.5 trillion won (US$37.20 billion) for the January-March period, compared with 33.6 trillion won for the same quarter last year. In particular, the combined net profit of technology firms, including Samsung Electronics and SK hynix, is expected to jump 80.73 percent on-year to 13.4 trillion won, the survey showed.
Samsung and SK hynix are likely to post stronger profits during the quarter as sales growth of semiconductors will drive their bottom lines. Samsung is predicted to post a first-quarter operating profit of 9.3 trillion won, up 39.37 percent from the same quarter last year.
However, Hyundai Motor, which is grappling with weaker sales at home and abroad, is expected to see its first-quarter operating profit fall 2.95 percent on-year to 1.3 trillion won, the survey showed.
By Alex Lee and newswires (alexlee@heraldcorp.com)
