Powernet Reports Operating Profit of 6.6 Billion KRW Last Year, Up 27.9% Year-on-Year

[Asia Economy Reporter Han Jinju] Powernet announced on the 8th that its operating profit on a consolidated basis last year was 6.6 billion KRW, an increase of 27.9% compared to the previous year. Sales increased by 14.5% year-on-year to 147.2 billion KRW, while net profit for the period decreased by 96.1% to 200 million KRW.

The company explained, "Non-cash non-operating expenses increased due to financial costs and valuation losses from the issuance of convertible bonds and impairment losses recognized on equity investments in affiliates."

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