[EQUITIES] Hana Investment sees Poongsan’s Q2 earnings beating market estimates

[THE INVESTOR] Hana Financial Investment on July 15 said defense parts maker Poongsan ’s second quarter earnings would surpass market estimates, with operating profit reaching 45.8 billion won (US$ 39.94 million) and sales at 496.7 billion won.

The market consensus put operating profit at 43.3 billion won.

The brokerage said rising demand for copper manufacturing is the main driver for growth, forecasting prices to further rise on anticipation of more economic stimulus measures in China.

By Kim Ji-hyun (jemmie@heraldcorp.com)