Mando Q2 net profit down 51.7 pct to 38.8 bln won

Mando-Q2 earnings

Mando Q2 net profit down 51.7 pct to 38.8 bln won

SEOUL, July 29 (Yonhap) -- Mando Corp. on Friday reported its second-quarter net profit of 38.8 billion won (US$29.9 million), down 51.7 percent from a year earlier.

The company said in a regulatory filing that it posted 45.7 billion won in operating profit for the quarter, compared with 76.7 billion won a year ago. Sales rose 12.9 percent to 1.67 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 33.7 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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