[Special Stock] KCC Hits 52-Week High on Strong Q1 Earnings
[Asia Economy Reporter Song Hwajeong] KCC showed strength with strong first-quarter earnings this year, recording a 52-week high during the trading session.
As of 9:10 a.m. on the 11th, KCC was trading at 343,000 KRW, up 2,000 KRW (0.59%) from the previous day. During the session, it rose to 344,000 KRW, setting a new 52-week high.
The strong first-quarter earnings are interpreted as the reason for the stock price increase. The previous day, KCC announced that its consolidated first-quarter sales reached 1.3625 trillion KRW, and operating profit was 77.4 billion KRW. These figures represent increases of 8.44% and 275.68%, respectively, compared to the same period last year. During the same period, net loss turned into net profit, recording a net income of 30.4 billion KRW.
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The earnings improvement is expected to continue. Researcher Park Sera of Shin Young Securities said, “Although profitability in the building materials and road business sectors has not yet recovered in the first quarter, from the second quarter onward, price pass-through and capacity utilization recovery will normalize profit margins as we move into the second half of the year,” adding, “This year, a structural change is expected due to profit improvements across all business divisions.”
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