ID :
182625
Tue, 05/17/2011 - 10:19
Auther :
Shortlink :
https://oananews.org//node/182625
The shortlink copeid
Listed firms' net up 9.8 pct in Q1
(ATTN: UPDATES para 3; CLARIFIES last para)
SEOUL, May 17 (Yonhap) -- South Korea's listed companies saw their earnings rise 9.8 percent in the first quarter from a year earlier, helped by robust exports and a recovery in consumer spending, a report showed Tuesday.
The combined net profit of 465 firms listed on the Seoul main bourse stood at 2.53 trillion won (US$2.3 billion) in the January-March period, compared with 2.30 trillion won in the same period a year earlier, according to the report by the Korea Exchange and the Korea Listed Companies Association.
The report was based on the K-IFRS accounting standards and conducted on firms that closed their books in December. A total of 185 listed firms, including Samsung Electronics Co. and Hyundai Motor Co., whose financial statements were unavailable were excluded.
Their total revenue increased 14.7 percent on-year to 50.39 trillion won in the three-month period, and operating profit jumped 16.9 percent to 3.34 trillion won, the report said.
The on-year growth in earnings was largely attributed to strong performances of semiconductor manufacturers and automakers.
"Brisk exports of semiconductors, automobiles and electronic parts led to a stronger bottom line. A rise in prices of polysilicon also drove up chemical makers' earnings," the report said.
Builders, however, swung to a loss as their profits declined due to a prolonged slump in the local property market. Machinery makers and transporters saw their earnings fall sharply due to a decline in equipment investments and high oil costs, the report said.
mil@yna.co.kr
SEOUL, May 17 (Yonhap) -- South Korea's listed companies saw their earnings rise 9.8 percent in the first quarter from a year earlier, helped by robust exports and a recovery in consumer spending, a report showed Tuesday.
The combined net profit of 465 firms listed on the Seoul main bourse stood at 2.53 trillion won (US$2.3 billion) in the January-March period, compared with 2.30 trillion won in the same period a year earlier, according to the report by the Korea Exchange and the Korea Listed Companies Association.
The report was based on the K-IFRS accounting standards and conducted on firms that closed their books in December. A total of 185 listed firms, including Samsung Electronics Co. and Hyundai Motor Co., whose financial statements were unavailable were excluded.
Their total revenue increased 14.7 percent on-year to 50.39 trillion won in the three-month period, and operating profit jumped 16.9 percent to 3.34 trillion won, the report said.
The on-year growth in earnings was largely attributed to strong performances of semiconductor manufacturers and automakers.
"Brisk exports of semiconductors, automobiles and electronic parts led to a stronger bottom line. A rise in prices of polysilicon also drove up chemical makers' earnings," the report said.
Builders, however, swung to a loss as their profits declined due to a prolonged slump in the local property market. Machinery makers and transporters saw their earnings fall sharply due to a decline in equipment investments and high oil costs, the report said.
mil@yna.co.kr
