Hyosung posts record Q2 figures

[THE INVESTOR] Hyosung corp on July 26 posted record second-quarter operating profit buoyed by improving performance across its portfolio.

The company’s regulatory filing showed that its operating profit jumped 29.8 percent from a year ago to come in at 331 billion won (US$291.49 million). According to the company, this is the first time its quarterly operating profit crossed the 300 billion won mark. 

Aided by the second-quarter figures, the company’s operating profit for the first six months of the year came to 553.3 billion won.

For the second quarter, revenue was 3.08 trillion won, pushing the first half total to over 5.89 trillion won.

The company said that its fabrics business brought in 92.5 billion won in operating profit despite increasing competition, while the figure for its industrial materials business more than doubled from a year ago to 73.6 billion won.

Hyosung also said that its debt-to-equity ratio has fallen to the lowest level since 2011, coming in at 287.2 percent at the end of June this year.

By Choi He-suk (cheesuk@heraldcorp.com)