April 26, 2024
Finance
Korean listed firms’ profits fall in Q2
[THE INVESTOR]
Their operating income also jumped 8.56 percent to 84.96 trillion won, and sales went up 5.33 percent to 924.23 trillion won during the cited period, the data showed.
Of the 536 KOSPI-listed firms whose data is available, 409 entities, or 76.30 percent, were in the black, while 23.70 percent ran a deficit in the first half.
During the second quarter, however, the companies’ performance was not quite encouraging, the latest data showed.
The listed firms’ operating income inched down 0.66 percent from three months earlier to 42 trillion won, and net profits skidded 6.41 percent to 31 trillion won, though their total sales moved up 2.86 percent on-quarter to 469 trillion won.
As for 844 out of 958 companies listed on the country‘s secondary KOSDAQ market, combined sales increased 2.65 percent to 83.42 trillion won, and net profits also picked up 5.1 percent to 3.59 trillion won during the first six months of this year.
But their operating profit retreated 11.26 percent to 45.04 trillion won, the findings revealed.
Of the total, 563 firms, or 66.71 percent, enjoyed net profits, while 33.29 percent logged losses, the data showed.
By Song Seung-hyun and newswires (ssh@heraldcorp.com)
Earnings of Korean listed companies marked on-year growth in the first half of this year, but their second-quarter results tumbled amid unstable external conditions, data showed on Aug. 16.
The combined net profit of 536 out of 632 firms, which are listed on the main KOSPI bourse and close their books on Dec. 31, came to 63.4 trillion won (US$56.12 billion) on a consolidated basis in the January-June period, up 1.27 percent from a year earlier, according to the data compiled by the bourse operator, Korea Exchange.
