Sales up but profits down at big firms

Korea’s major listed companies saw revenue increase last year from a year earlier, but fell short of earning more profits, data showed yesterday.

Sales per capita by 649 listed firms rose 11.7 percent to 1,679 million won ($1.4 million) in the fiscal year 2011 from a year earlier, according to the Korea Listed Companies Association (KLCA).

Their operating profit per capita fell 3.98 percent to 115 million won during the same time span, the KLCA said, adding net profit fell 14 percent to 82 million won.

By industry, the transportation and warehouse industry suffered the most, with operating profits declining 89.1 percent to 9 million won.

This was attributed to declining exports to the debt-ridden euro zone.

The electricity and gas industry recorded 25 million won in operating profits last year, down 81.4 percent.

The medical and precision equipment industry saw an 81.3 percent decline in per-capita operating profits last year.

The electronics industry garnered 68 million won in per capita operating profits last year, down 31.4 percent, while the medicine industry showed a 23.7 percent decline with 29 million won in per-capita operating profits.

The financial industry, meanwhile, posted a whopping 40.5 surge in per-capita operating profits with 709 million won, and the distribution industry’s per-capita operating profit rose 35.6 percent to 87 million won.

The listed firms had a total of 1,062,300 employees last year, up 32,170 workers, or 3.12 percent from the previous year.

Yonhap