Samsung SDI's Q2 net rises 17 pct

SEOUL, July 21 (Yonhap) -- Samsung SDI Co., the world's No. 3 producer of
rechargeable batteries, said Tuesday that its net profit rose 17 percent in the
second quarter of this year from a year earlier mainly due to increased income
from equity investment.
Net income came to 58 billion won (US$46.4 million) in the April-June period,
compared with 49.6 billion won a year ago, Samsung SDI said in a regulatory
filing.
Sales fell 6 percent on-year to 1.19 trillion won during the same period on the
back of a rise in overseas orders and operating profit reached 48.8 billion won,
a 33 percent increase from a year ago.
Shares of Samsung SDI were trading at 106,500 won on the Seoul bourse as of 1:40
p.m., down 0.93 percent from the previous session.
Samsung SDI, a unit of South Korea's top conglomerate Samsung Group, attributed
the rise to earnings from its stake in a joint venture with Samsung Electronics
Co.
The venture Samsung Mobile Display Co. swung to a net profit, thanks to the
rising demand for displays used in handsets and small televisions.
Samsung SDI offered an upbeat outlook for the third quarter, saying there is a
sign of recovery in demand for its batteries used in hybrid cars.
ygkim@yna.co.kr
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