Poongsan-Q2 earnings

Poongsan-Q2 earnings

Poongsan Q2 net profit down 33.6 pct to 44.9 bln won

SEOUL, July 28 (Yonhap) -- Poongsan Corp. on Friday reported its second-quarter net income of 44.9 billion won (US$35.2 million), down 33.6 percent from a year earlier.

Operating income for the April-June period was 53.9 billion won, down 39.9 percent from a year ago, the company said in a regulatory filing. Sales fell 10.8 percent to 1.03 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 46.9 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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