Hansol Paper Reports Q2 Operating Profit of 19.3 Billion KRW, Up 281.2% Year-on-Year
Sales Reach 565 Billion KRW, Up 0.4%
Hansol Paper announced on the 1st that its consolidated operating profit for the second quarter of this year reached 19.3 billion KRW, marking a 281.2% increase compared to the same period last year.
During the same period, sales rose by 0.4% to 565 billion KRW. Net profit for the quarter turned positive, reaching 8.4 billion KRW.
Compared to the previous quarter, operating profit decreased by 4.9%, and sales declined by 1.8%.
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A Hansol Paper representative stated, "Due to the seasonal off-peak period, the conflict in the Middle East, and the US-China tariff issues, there was an increase in shipping volumes, leading to a sharp rise in ocean freight rates. Additionally, the decline in exchange rates worsened export conditions." The representative added, "However, on a consolidated basis, approximately 10 billion KRW in profit was realized as inventory assets were sold in response to preemptive demand from US clients ahead of tariff hikes. The base effect from last year's bad debt expense in the Environmental Business Division also contributed, resulting in improved performance compared to the same period last year."
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