Samhwa Paint Turns to Deficit in Q1... "High Exchange Rate Impact"
Operating Loss of KRW 3.6 Billion Recorded
Sales Down 5.1% Due to Paint Market Contraction
"Profit Structure to Be Improved by Focusing on High Value-Added Products"
On May 15, Samhwa Paint announced that its sales for the first quarter of this year reached KRW 133.3 billion, down 5.1% compared to the same period last year.
The company posted an operating loss of KRW 3.6 billion, turning to a deficit.
The decline in sales was attributed to a contraction in the architectural and industrial paint markets. In addition, prolonged high exchange rates further eroded profitability.
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A company representative stated, "Although the market size is shrinking due to the downturn in the construction industry, we are maintaining solid results in the repainting business and other areas. We plan to improve our profit structure by focusing on high value-added items."
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