Korea’s listed companies saw their earnings surge 73 percent on-year in 2010 thanks to a recovery in domestic demand and robust exports, a report showed Sunday.
The combined net profit of 573 firms listed on the main bourse came to 55.8 trillion won ($51 billion) last year, up from 32.2 trillion won the previous year, according to the report jointly compiled by the Korea Exchange and the Korea Listed Companies Association.
Their total sales rose 15 percent on-year to 814.5 trillion won and their combined operating profit jumped 46 percent to 63 trillion won, the report added.
The on-year growth came on the back of rising overseas shipments of IT products and automobiles, the report said, adding that a recovery in domestic demand also powered the increase.
However, losses of builders hit by a prolonged property slump were a drag.
According to the report, financial firms saw their profitability rise from a year earlier thanks to an increase in the net interest margin, the key gauge of loan profitability, and the bullish stock market.
Among large-cap firms, Samsung Electronics’ net income jumped 65.4 percent on-year, but that of LG Electronics slumped 45.4 percent in the same period, according to the report.
(Yonhap News)
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