Hyosung O&B Reports Operating Profit of 2.1 Billion KRW, Up 41% Year-on-Year
[Asia Economy Reporter Minji Lee] Hyosung ONB announced on the 14th that its operating profit for this year reached 2,111.29 million KRW, a 41% increase compared to the same period last year. Sales increased by 3% to 29.2 billion KRW, while net profit decreased by 14% to 1.5 billion KRW. Hyosung ONB's fiscal year ends in June.
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The company explained, "Profits increased due to sales growth and a decrease in selling and administrative expenses," adding, "Net profit declined due to an increase in other expenses from consolidated subsidiaries."
This content was produced with the assistance of AI translation services.
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