Hyundai Livart profit up 40 percent on increase in furniture sales
Furniture company Hyundai Livart saw its net profit jump more than 40 percent on-year in the second quarter.
In a preliminary report released Monday, Hyundai Livart announced it reported 6.78 billion won ($5.72 million) in net profit, up 40.2 percent on-year.
Its operating profit went up by 67.6 percent on-year to 10.04 billion won on sales that rose 16.8 percent to 352.86 billion won.
Online sales and the renewal and opening of new stores also helped boost its business, according to Hyundai Livart.
Increased sales were expected as furniture sales grew over recent months with more people spending time at home to avoid the chance of contracting Covid-19.
Rival Hanssem also reported an earnings surprise in the second quarter.
BY JIN MIN-JI [email@example.com]