Kiwoom Securities Q2 net income down 50.9 pct to 108.7 bln won

Kiwoom Securities-Q2 earnings

Kiwoom Securities Q2 net income down 50.9 pct to 108.7 bln won

SEOUL, Aug. 9 (Yonhap) -- Kiwoom Securities Co. on Tuesday reported second-quarter net income of 108.7 billion won (US$83.3 million), down 50.9 percent from a year earlier.

Operating profit for the April-June period was 127.3 billion won, down 56.5 percent from a year ago, the company said in a regulatory filing. Sales rose 135.5 percent to 2.41 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 130.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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