Samsung Card's H1 net jumps 55.5 pct

SEOUL, July 16 (Yonhap) -- Samsung Card Co., South Korea's No. 2 credit card
company, said Thursday its first-half earnings jumped 55.5 percent on-year due
mainly to one-off factors and cost-cutting efforts.
Net income reached 362.5 billion won (US$286.3 million) in the January-June
period, compared with 233.1 billion won the previous year, the company said. Its
second-quarter earnings climbed 54.3 percent on-year to 186.3 billion won.
First-half sales added 0.04 percent to 1.43 trillion won and operating profit
jumped 61 percent on-year to 391.7 billion won, it added.
Samsung Card's stellar earnings resulted mainly from one-off profits from the
sale of its stakes in Visa Inc. in the first quarter and cost-saving measures
amid the slumping economy, it said.
sooyeon@yna.co.kr
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