Hyosung O&B Reports Operating Profit of 2.1 Billion KRW, Up 41% Year-on-Year

[Asia Economy Reporter Minji Lee] Hyosung ONB announced on the 14th that its operating profit for this year reached 2,111.29 million KRW, a 41% increase compared to the same period last year. Sales increased by 3% to 29.2 billion KRW, while net profit decreased by 14% to 1.5 billion KRW. Hyosung ONB's fiscal year ends in June.

The company explained, "Profits increased due to sales growth and a decrease in selling and administrative expenses," adding, "Net profit declined due to an increase in other expenses from consolidated subsidiaries."