[EQUITIES] Hanwha Techwin to return to profitability in Q2

[THE INVESTOR] Hanwha Techwin, the defense unit of Hanwha Group, is expected to swing back to profitability in the second quarter, Korea Investment & Securities said in a report on July 14.

The securities firm predicted the company’s second-quarter profit at 32.7 billion won (US$28.70 million) returning to profitability after it posted 79.2 billion won in operating loss in the second quarter.

“Due to the company’s efforts to cut costs and personnel reshuffle, it is expected to post an operating profit ratio of 4.6 percent in the second quarter,” the report said.

“Across business division, its defense division received a big boost from its recent export to Poland. Other key businesses such as CCTV and engines are also expected to continue the current positive momentum.”

By Lee Ji-yoon (jylee@heraldcorp.com)