Sejin Heavy Industries Reports Operating Profit of 800 Million KRW Last Year, Down 90% Year-on-Year
[Asia Economy Reporter Minji Lee] Sejin Heavy Industries announced on the 2nd that its operating profit last year was 873.17 million KRW, a 90% decrease compared to the previous year. Sales decreased by 2.6% to 288.2 billion KRW, and net profit fell 6% to 2.9 billion KRW.
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The company explained, "Operating profit declined due to temporary cost increases from management rationalization and the setting of provisions, while pre-tax profit increased due to the disposal of tangible assets."
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