Listed companies see over 8% drop in consolidated earnings
Consolidated earnings for Korean listed companies fell 8.49 percent onyear in the fi rst quarter in the midst of mounting global economic uncertainties and slowing exports, a report showed yesterday.The combined net profi t of 165 big firms such as Samsung Electronics and Hyundai Motor totaled 19.4 trillion won ($16.4 billion), down from 22 trillion won a year earlier, according to the report by the Korea Exchange (KRX) and the Korea Listed Companies Association.
The tally was based on the new Korean International Financial Reporting Standards that require listed companies to include affi liates’ results in their earnings reports. Yonhap
with the Korea JoongAng Daily
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