Pan Ocean Q2 net profit up 146.8 pct to 224.8 bln won

Pan Ocean-Q2 earnings

Pan Ocean Q2 net profit up 146.8 pct to 224.8 bln won

SEOUL, Aug. 1 (Yonhap) -- Pan Ocean Co. on Monday reported its second-quarter net profit of 224.8 billion won (US$172.2 million), up 146.8 percent from a year earlier.

The company said in a regulatory filing that it posted 238.8 billion won in operating profit for the quarter, compared with 112 billion won a year ago. Revenue rose 52.4 percent to 1.72 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 178.8 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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