Solus Advanced Materials Reports Operating Profit of 2 Billion KRW Last Year, Down 93.5% Year-on-Year

[Asia Economy Reporter Myunghwan Lee] Solus Advanced Materials announced on the 9th that its consolidated operating profit for last year was 1.9804 billion KRW, a decrease of 93.5% compared to the previous year. Last year's sales amounted to 381.19568 billion KRW, an increase of 31.4% year-on-year. Net profit for the period turned positive at 87.77 million KRW.

Solus Advanced Materials explained, "While sales expanded due to balanced growth across domestic and overseas business divisions, the operating profit decreased due to an increase in the cost of sales ratio compared to the previous year."

Meanwhile, the company decided to pay a cash dividend of 100 KRW per common share and 101 KRW per preferred share. The dividend yield is 0.1% for common shares and 0.5% for preferred shares. The total dividend amount is 3.966 billion KRW, scheduled to be paid on April 29.