Woojin, 2Q Operating Profit 4.2 Billion KRW... 12% Increase YoY

[Asia Economy Reporter Hyungsoo Park] Woojin continued its strong performance in the second quarter.

On the 12th, Woojin announced that its consolidated sales for the second quarter of this year reached 31.5 billion KRW, and operating profit was 4.2 billion KRW. These represent increases of 10.0% and 11.5%, respectively, compared to the same period last year. Net profit for the period was 2.1 billion KRW.

Woojin is a specialized manufacturer of measuring instruments used in various industries such as nuclear power, steel, and semiconductors. Despite adverse conditions including rising raw material costs due to inflation, the company achieved improved profitability.

In the second quarter, sales of its subsidiary Woojin Entec increased significantly. Woojin Entec is a company that maintains measurement and control equipment for nuclear and thermal power plants. It recorded sales of 9.0 billion KRW and operating profit of 1.9 billion KRW, increases of 14.9% and 64.1%, respectively, compared to the same period last year. Starting this year, the performance began reflecting the service contract for "Routine Maintenance of Gangneung Anin Thermal Power Plant Units 1 and 2," which was awarded in September last year.

A Woojin official said, "The improvement in our subsidiary's performance is contributing to our overall earnings growth," and added, "We expect profitability to improve further once the prices of key raw materials stabilize."

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