Hanjin Kal Reports Operating Profit of 48.6 Billion KRW Last Year, Up 4.2% Year-on-Year
[Asia Economy Reporter Choi Saeng-hye] Hanjin KAL announced on the 7th that its operating profit based on separate financial statements increased by 4.2% year-on-year to 48.6 billion KRW last year.
Last year's sales amounted to 65.1 billion KRW, up 5.3% from the previous year, but net profit for the period decreased by 15.3% to 32.1 billion KRW.
On a consolidated basis, last year's sales recorded 1.2037 trillion KRW, down 7.8% year-on-year, and operating loss turned to 4.2 billion KRW, resulting in a deficit compared to the previous year. Net loss for the period continued at 255.8 billion KRW.
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Hanjin KAL explained, "The decline in operating performance last year was mainly due to the poor performance of Jin Air, which faced difficulties due to sanctions from the Ministry of Land, Infrastructure and Transport and decreased demand on the Japan route."
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