Korea Technology Achieves Highest Quarterly Operating Profit in 8 Years
[Asia Economy Reporter Jang Hyowon] Korea Technology, a KOSDAQ-listed company, announced on the 15th that it recorded the highest quarterly operating profit in eight years.
According to the disclosure, Korea Technology posted sales of 5.847 billion KRW, operating profit of 1.54 billion KRW, and quarterly net profit of 650 million KRW on a separate basis in the third quarter, achieving the highest quarterly operating profit in eight years following two consecutive quarters of operating profit.
Sales increased by approximately 2.451 billion KRW, operating profit by 2.697 billion KRW, and half-year net profit by 3.13 billion KRW compared to the same period last year. This is mainly attributed to the company’s focus on strengthening internal management by restructuring its financial structure, including the disposal of non-core businesses and securing investment destinations.
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Shin Yonggu, CEO of Korea Technology, stated, “Achieving the highest operating profit in eight years amid the overall unfavorable domestic and international economic conditions caused by rising raw material prices and interest rate hikes due to the Russia-Ukraine war is evidence of improved financial soundness.” He added, “We will do our best for the company’s future vision along with turning to an annual profit.”
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