Trading business sends SK Networks well into the black

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Trading business sends SK Networks well into the black

SK Networks, the trading arm of Korea’s third-largest conglomerate SK Group, said yesterday its third-quarter earnings jumped threefold from a year earlier thanks to solid profits by its key businesses.

Net profit reached 13.4 billion won ($12.3 million) in the July-September period, compared with 4.3 billion won the previous year, the company said in a regulatory filing.

Sales gained 6.5 percent to 7.3 trillion won in the cited period, while operating profit slumped 28.1 percent to 50.2 billion won.

“Operating profit slipped as profits from the trading business slumped amid an economic recession, but key units such as IT, energy and car businesses achieved stable results,” the company said.

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