[THE INVESTOR]
Dongkuk Steel Mill ’s second quarter operating profit soared 156.4 percent from a year ago to come in at 99 billion won (US$86.4 million) the steelmaker said on July 11.
The company’s second-quarter sales came in at just under 1.17 trillion won, down 1.5 percent over the same period, while net profits dropped 59.6 percent to 36.4 billion won.
The company said that second-quarter figures were boosted by improving sales of colored plates and steel bars. It also said that restructuring conducted last month enabled stable operations.
For the first six months of the year, the company’s sales decreased 5.3 percent from a year ago to 2.155 trillion won, while operating profit tallied in at 140.2 billion won, bringing the company into the black. Dongkuk’s first-half net profits came in at 39 billion won, rising 198.9 percent compared to the same period last year.
By Choi He-suk (
cheesuk@heraldcorp.com)