[Featured Stock] Daehan Cable Posts 15% Rise on Strong 1Q Earnings
Daehan Electric Wire is showing strong performance in the early trading session after recording excellent results in the first quarter of this year.
As of 9:15 AM on the 16th, Daehan Electric Wire is trading at 17,150 KRW on the KOSPI market, up 14.95% compared to the previous trading day.
The day before, Daehan Electric Wire announced that its consolidated operating profit for the first quarter of this year was tentatively estimated at 17.7 billion KRW, a 50% increase compared to the same period last year. Sales reached 703.9 billion KRW, up 19% from the same period last year. This is the first time in 12 years since the first quarter of 2011 that quarterly sales have exceeded 700 billion KRW.
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Daehan Electric Wire explained that despite the decline in copper prices, it achieved strong results by promoting sales based on a high order backlog and expanding new orders.
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