Hyosung Corp.’s Q2 profits quadruple

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Hyosung Corp.’s Q2 profits quadruple

Hyosung Corp., a Korean maker of textiles and heavy machinery, said yesterday its second-quarter earnings more than quadrupled on-year on gains from equity investment in affiliates and improved profitability in the heavy and chemical sectors.
Net profit came to 69.2 billion won ($75 million) in the April to June period, compared to 14.9 billion won a year earlier, Hyosung said in a filing.
Sales rose 14.5 percent to 1.37 trillion won in the three months ended June 30.
The company’s first-half net income shot up 321.8 percent to 95.1 billion won on-year and sales rose 13 percent to 2.66 trillion won in the same period.
Yonhap
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