May 02, 2024
Economy
Corporate sales rise 2% in 2016
[THE INVESTOR] Combined sales of Korean companies rose 1.1 percent in 2016 from a year earlier, central bank data showed on May 30.
The annual figure marked a turnaround from 2015 when the annual sales growth rate for domestic companies contracted 2.4 percent. In 2014, sales of Korean companies backtracked 0.3 percent.
The Bank of Korea said oil prices and housing bolstered combined sales of Korean companies in 2016.
Conglomerates said their sales dropped 0.3 percent in 2016, compared with a 3.8-percent decrease posted a year earlier.
Small and medium enterprises posted a 7.4 percent increase in sales last year, up from a 4.2-percent expansion in 2015, the BOK said.
The central bank said companies’ operating profit margin to sales came to 6.1 percent in 2016, up from 5.2 percent tallied in the previous year. It means that companies earned 61 won whenever they sold a product worth 1,000 won (US$0.84).
By Alex Lee and newswires (alexlee@heraldcorp.com)
The annual figure marked a turnaround from 2015 when the annual sales growth rate for domestic companies contracted 2.4 percent. In 2014, sales of Korean companies backtracked 0.3 percent.
The Bank of Korea said oil prices and housing bolstered combined sales of Korean companies in 2016.
Conglomerates said their sales dropped 0.3 percent in 2016, compared with a 3.8-percent decrease posted a year earlier.
Small and medium enterprises posted a 7.4 percent increase in sales last year, up from a 4.2-percent expansion in 2015, the BOK said.
The central bank said companies’ operating profit margin to sales came to 6.1 percent in 2016, up from 5.2 percent tallied in the previous year. It means that companies earned 61 won whenever they sold a product worth 1,000 won (US$0.84).
By Alex Lee and newswires (alexlee@heraldcorp.com)
