UPDATE : 2019.6.17 MON 17:27
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Hyundai Steel Q2 net jumps 37 pct on high-end products

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  edt@koreapost.com

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