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rofits of Listed Firms Surge.
(From Korea Times)
Listed companies that closed their books in June posted a surge of more than 500 percent in combined net profits this year from a year earlier. The financial sector saw remarkable earnings, and some manufacturers enjoyed profit from debt write-offs.
The Korea Stock Exchange (KSE) reported yesterday that 21 KSE-listed firms whose fiscal year ends in June chalked up a 539.5-percent rise of 436.8 billion won in combined net profits during the fiscal year 2001 between July 2001 and June 2002. They also registered 3.25 trillion won in revenues during the same period, an increase of 2.7 percent year-on-year.
During the same span, they also saw operating profits soar 150 percent to 268.2 billion won, whereas the firms posted a deficit of 45.7 billion won in ordinary profits.
The main board said the manufacturing sector continued to enjoy a profit, while the financial industry saw better earnings after a steep rise in revenues, cost cuts and sustained ...
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