Korea Express Q2 net slips on economic slump

SEOUL, July 24 (Yonhap) -- Korea Express Co., South Korea's leading logistics
company, said Friday that its second-quarter earnings fell 9.7 percent from a
year earlier due to an economic downturn.

Net profit reached 28 billion won (US$22.4 million) in the April-June period,
compared with 31 billion won a year earlier, the company said in a regulatory
filing.
Sales rose 31.5 percent to 554 billion won over the cited period, while its
operating income surged 89 percent to 27 billion won, it said.
For the full year, the company expects sales to reach 2.36 trillion won, up 29
percent from a year earlier.
Its annual operating income is expected to rise 70 percent to 120 billion won
this year, it said.
Korea Express was taken over earlier this year by Kumho-Asiana Group, the
country's seventh-largest conglomerate.
sam@yna.co.kr
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