ID :
43126
Thu, 01/29/2009 - 17:33
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https://oananews.org//node/43126
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KEPCO swings to 2008 loss on high fuel costs
By Nam Kwang-sik
SEOUL, Jan. 29 (Yonhap) -- South Korea's state-run Korea Electric Power Corp.
(KEPCO) said Thursday it swung to a loss last year due to increased fuel costs.
Net loss reached 2.95 trillion won (US$2.2 billion) in 2008, compared with a
profit of 1.55 trillion won a year ago, the company said in a regulatory filing.
Revenue, however, rose 8.8 percent annually to 31.52 trillion won. But the power
company posted an operating loss of 3.66 trillion won, compared with an operating
profit of 330 billion won a year ago, it said.
"The switch to net loss resulted mainly from a surge in fuel costs," KEPCO said.
ksnam@yna.co.kr
(END)
SEOUL, Jan. 29 (Yonhap) -- South Korea's state-run Korea Electric Power Corp.
(KEPCO) said Thursday it swung to a loss last year due to increased fuel costs.
Net loss reached 2.95 trillion won (US$2.2 billion) in 2008, compared with a
profit of 1.55 trillion won a year ago, the company said in a regulatory filing.
Revenue, however, rose 8.8 percent annually to 31.52 trillion won. But the power
company posted an operating loss of 3.66 trillion won, compared with an operating
profit of 330 billion won a year ago, it said.
"The switch to net loss resulted mainly from a surge in fuel costs," KEPCO said.
ksnam@yna.co.kr
(END)
