SeAH Besteel Holdings Q2 Operating Profit 82.3 Billion KRW... 29.6% Increase
SeAH Besteel Holdings announced that its consolidated operating profit for the second quarter of this year was tentatively estimated at 82.3 billion KRW, a 29.6% increase compared to the same period last year.
Sales decreased by 3.9% to 1.0179 trillion KRW, and net profit fell by 18.6% to 47.4 billion KRW. SeAH Besteel Holdings stated, "Although sales slightly declined due to a slowdown in demand across industries such as machinery and construction, we have maintained a stable sales flow by achieving sales exceeding 1 trillion KRW for six consecutive quarters."
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It added, "With the global manufacturing downturn and reduced trade, demand industries are generally sluggish, and weak demand for major products is expected. We will strengthen sales focused on high value-added products and simultaneously promote expanding the share of future demand industries such as electric vehicles, offshore wind power, aerospace, nuclear power, and hydrogen."
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