ID :
71582
Wed, 07/22/2009 - 19:27
Auther :
Shortlink :
https://oananews.org//node/71582
The shortlink copeid
Top 10 firms` combined profits expected to soar 65 pct in 2009
SEOUL, July 22 (Yonhap) -- South Korea's top 10 listed companies by market value
are expected to report a 65 percent hike from a year earlier in combined net
profits this year as reviving economic activity boosted their bottom lines, an
online financial information provider said Wednesday.
According to Fn Guide, the bottom line for the nation's 10 largest companies is
expected to reach 16.4 trillion won (US$13.1 billion) in 2009, compared with 9.9
trillion won last year.
The companies include the world's top memory-chip maker Samsung Electronics Co.,
steel giant POSCO, the largest shipbuilder Hyundai Heavy Industries Co. and
Hyundai Motor Co.
Among them, Samsung Electronics is forecast to report 6.2 trillion won in net
profit this year, up 13 percent from last year, with LG Electronics Co. expected
to log 1.6 trillion won, compared with 482.8 billion won a year earlier, Fn Guide
said.
The upbeat prediction followed an upward revision of local economic growth
estimates by the government and the central bank.
Citing state stimulus packages and monetary easing, the government in late June
predicted the economy will likely contract 1.5 percent this year, up from a
previous growth forecast of negative 2 percent.
The Bank of Korea forecast earlier this month that the economy will slip 1.6
percent, better than its earlier estimate of a 2.4 percent fall.
pbr@yna.co.kr
(END)
are expected to report a 65 percent hike from a year earlier in combined net
profits this year as reviving economic activity boosted their bottom lines, an
online financial information provider said Wednesday.
According to Fn Guide, the bottom line for the nation's 10 largest companies is
expected to reach 16.4 trillion won (US$13.1 billion) in 2009, compared with 9.9
trillion won last year.
The companies include the world's top memory-chip maker Samsung Electronics Co.,
steel giant POSCO, the largest shipbuilder Hyundai Heavy Industries Co. and
Hyundai Motor Co.
Among them, Samsung Electronics is forecast to report 6.2 trillion won in net
profit this year, up 13 percent from last year, with LG Electronics Co. expected
to log 1.6 trillion won, compared with 482.8 billion won a year earlier, Fn Guide
said.
The upbeat prediction followed an upward revision of local economic growth
estimates by the government and the central bank.
Citing state stimulus packages and monetary easing, the government in late June
predicted the economy will likely contract 1.5 percent this year, up from a
previous growth forecast of negative 2 percent.
The Bank of Korea forecast earlier this month that the economy will slip 1.6
percent, better than its earlier estimate of a 2.4 percent fall.
pbr@yna.co.kr
(END)
