Samhwa Paint Reports 2Q Operating Profit of 10.7 Billion KRW, Down 4.9% YoY

Eco-friendly interior paint by Samhwa Paint.

Samwha Paints Industrial's sales and operating profit in the second quarter slightly decreased compared to the same period last year.

Samwha Paints Industrial announced on the 7th that its provisional figures for the second quarter of this year showed sales of 175.38 billion KRW and operating profit of 10.677 billion KRW. Sales decreased by 0.4% compared to the same period last year, and operating profit fell by 4.9%. Compared to the first quarter, sales and operating profit increased by 25.6% and 246.3%, respectively.

A representative from Samwha Paints Industrial explained, "Sales slightly declined due to the global economic downturn and domestic construction market slump," adding, "Operating profit slightly decreased due to the impact of subsidiaries and there was also a negative base effect from last year's performance." The representative continued, "There is a possibility of international issues such as crude oil production cuts and exchange rate increases threatening business activities in the second half of the year," and added, "We plan to wisely cope with the global economic crisis by offering products that meet consumer needs."

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