Hyundai Steel Co., South Korea's second-biggest steelmaker by sales, said Friday its second-quarter net profit jumped 37 percent on robust sales of high-end products.
Net profit for the April-June quarter jumped to 177 billion won (US$158 million) from 138.5 billion won a year earlier, the company said in a statement.
|This file photo shows Hyundai Steel's integrated steel mill in Dangjin, 120 kilometers southwest of Seoul. (Yonhap)|
"In the second quarter, the sales of high-end products rose 6.9 percent from a year earlier and company-wide cost reduction efforts helped improved profitability," the statement said.
Operating profit climbed 7 percent to 375.6 billion won in the second quarter from 351 billion won a year ago. Sales were up 16 percent to 5.448 trillion won from 4.693 trillion won during the same period. (Yonhap)
Kim Jung-mi firstname.lastname@example.org
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