August 05, 2019 13:06
Major conglomerates' operating profit plunged W28.31 trillion in the first six months of the year compared to the same period of last year (US$1=W1,200). Operating profit plummeted not only at semiconductor manufacturers but also among petrochemical and steel makers.
Market researcher CEO Score said Sunday that analysis of 55 out of the top 100 companies which announced first-half earnings showed a combined revenue of W592.4 trillion and total operating profit of W42.8 trillion. Sales rose 1.2 percent on-year but operating profit fell a whopping 39.8 percent.
Samsung's operating profit nosedived W17.68 trillion over the same period and SK Hynix's W7.93 trillion.
Other losers were LG Chem (-W811.3 billion), SK Innovation (-W734.6 billion), POSCO (-W468.5 billion), LG Electronics (-W325.9 billion), GS Engineering and Construction (-W211.3 billion) and Naver (-W173 billion).
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