Yujin Corporation Reports 26.1% Increase in Q2 Operating Profit

Operating Profit Increase Due to Improved Performance of Major Subsidiaries and Decreased Selling and Administrative Expenses

[Asia Economy Reporter Kim Jong-hwa] Eugene Corporation announced on the 14th that it recorded consolidated second-quarter sales of 375.7 billion KRW, operating profit of 48.1 billion KRW, and net profit of 33.9 billion KRW.

Operating profit and net profit increased by 26.1% and 29.3% respectively compared to last year, showing favorable performance. The company stated that profitability improved due to improved performance of major subsidiaries and reduced selling and administrative expenses through intensive cost-cutting. On the other hand, sales decreased by 5.6% due to the construction market downturn caused by COVID-19.

A Eugene Corporation official said, "Despite the difficult situation caused by COVID-19, operating profit increased thanks to the solid performance of major affiliates," adding, "As difficulties are expected to continue in the second half due to the ongoing downturn in the construction and real estate markets, we will strive to improve profitability."

Meanwhile, on an individual basis, sales amounted to 206.3 billion KRW, down 10.7% from the previous year, but operating profit recorded 18.6 billion KRW, an increase of 22.1%.

This content was produced with the assistance of AI translation services.