Hyosung Heavy Industries Corp. (298040.KS) Friday reported lower profit in its first quarter, while operating income climbed with strong growth in sales.
In the first quarter, the Korean heavy electrical equipment manufacturer reported net income attributable to shareholders of parent company of 87.26 billion won, down 14.6 percent from 102.16 billion won last year.
Pre-tax income from continuing operation was 129.14 billion won, down 1.01 percent year-over-year.
However, operating income climbed 48.8 percent to 152.32 billion won from 102.39 billion won last year.
Sales climbed 26.2 percent to 1.36 trillion won from prior year's 1.08 trillion won. Sequentially, sales fell 22.07 percent.
In South Korea, the shares closed Friday's regular trading at 3,552,000.00 won, up 8.69 percent.
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