Top listed companies saw profits drop in 2011

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Top listed companies saw profits drop in 2011

Major listed companies belonging to Korea’s top 10 conglomerates saw their operating profits inch down in 2011 from a year earlier on global economic woes, data showed yesterday.

The combined operating profit of the 73 companies reached 73.89 trillion won ($64.7 billion) last year, down 1.04 percent from the previous year, according to the Korea Exchange, the nation’s bourse operator.

Of the conglomerates, only four posted gains in operating profits, while the remainder suffered declines.

SK Group, Korea’s third-largest conglomerate, posted an operating profit of 14.48 trillion won in 2011, up 36 percent from the year earlier and the biggest leap among the 10 conglomerates.

Hyundai Motor Group, the world’s fifth-largest carmaker, earned 17.61 trillion won in 2011 operating profit, up 29.11 percent from a year earlier, thanks to strong performances by its flagship companies, Hyundai Motor and Kia Motors.

However, Korea’s largest conglomerate Samsung Group saw its operating profit decline 9.84 percent on-year to reach 20.61 trillion won in 2011.

Yonhap

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