ID :
204341
Tue, 08/30/2011 - 10:01
Auther :
Shortlink :
https://oananews.org//node/204341
The shortlink copeid
S. Korean listed firms' H1 net falls 7.49 pct
SEOUL, Aug. 30 (Yonhap) -- Earnings for South Korean listed companies dropped more than 7 percent on-year in the first half of the year amid unstable external economic conditions, with one in six firms suffering losses in the second quarter, a report showed Tuesday.
The combined net profit of 151 out of 660 companies, which are listed on the main bourse and close their books on Dec. 31, reached 41.67 trillion won (US$38.9 billion) in the January-June period, down 7.49 percent from 45.05 trillion won a year earlier, according to the report by the Korea Exchange and the Korea Listed Companies Association.
The report showed the firm's combined sales surged 17.63 percent to 709.14 trillion won over the cited period, while their operating income dropped 6.1 percent to 51.42 trillion won.
A company with more than 2 trillion won in assets is required to file a consolidated financial statement that brings together all assets, liabilities and operating accounts of a parent company and its subsidiaries.
The report said the weaker bottom line came as firms' profitability slipped on a rise in oil and raw material prices amid worsening external economic uncertainties.
"The global economic slowdown reduced demand for computers and other electronic goods, and a supply glut of semiconductors and display panels led to a drop in their prices," it said.
During the second quarter, their combined net profit slipped 6.6 percent on-year to 20.12 trillion won and operating income sank 8.8 percent to 24.53 trillion won over the cited period, it said.
However, sales gained 4.25 percent on-year to 361.95 trillion won in the second quarter.
The report showed that the average debt ratio of the tallied firms came to 128.45 percent as of end-June, down 2.76 percentage points from the end of 2010.
The combined net profit of 151 out of 660 companies, which are listed on the main bourse and close their books on Dec. 31, reached 41.67 trillion won (US$38.9 billion) in the January-June period, down 7.49 percent from 45.05 trillion won a year earlier, according to the report by the Korea Exchange and the Korea Listed Companies Association.
The report showed the firm's combined sales surged 17.63 percent to 709.14 trillion won over the cited period, while their operating income dropped 6.1 percent to 51.42 trillion won.
A company with more than 2 trillion won in assets is required to file a consolidated financial statement that brings together all assets, liabilities and operating accounts of a parent company and its subsidiaries.
The report said the weaker bottom line came as firms' profitability slipped on a rise in oil and raw material prices amid worsening external economic uncertainties.
"The global economic slowdown reduced demand for computers and other electronic goods, and a supply glut of semiconductors and display panels led to a drop in their prices," it said.
During the second quarter, their combined net profit slipped 6.6 percent on-year to 20.12 trillion won and operating income sank 8.8 percent to 24.53 trillion won over the cited period, it said.
However, sales gained 4.25 percent on-year to 361.95 trillion won in the second quarter.
The report showed that the average debt ratio of the tallied firms came to 128.45 percent as of end-June, down 2.76 percentage points from the end of 2010.
