] Daehan Steel
posted decent earnings in the first quarter despite being a low season and its stocks will remain strong, said HMC Investment and Securities on May 18.
Its operating profit in the period rose 21 percent on-year to 9.2 billion won (US$8.15 million) in line with market expectations, said analyst Park Hyeon-uk.
The earnings will improve further in the second quarter as the steel bar price increased to 150,000 won from the previous quarter and the industry is entering its peak season, noted the analyst.
There are concerns that the housings market will slow down, but considering the upward curve of its earnings and its all-cash financial structure, its stocks will remain solid, forecast Park.
By Hwang You-mee (email@example.com