Korean Firms' Profits Plunge Over 40%

  • By Shin Eun-jin

    April 29, 2019 13:27

    Korean listed companies' operating profits in the first quarter of this year plunged by over 40 percent compared to a year ago.

    Financial information provider FnGuide said Sunday it analyzed 67 KOSPI- or Kosdaq-listed companies that had released their earnings by last week and found that their combined operating profits stood at W19.26 trillion, down 41.5 percent from the first quarter of last year (US$1=W1,161).

    Out of 43 companies whose earnings were forecast by at least three securities firms, 13 in fact posted operating profits more than 10 percent lower, despite projections already being slashed.

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