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Songwon reports huge fall in quarterly profits
3:49 AM MDT | September 16, 2013 | Deepti Ramesh
Songwon Industrial (Ulsan, South Korea) reports a 94.6% fall in net profits for the second quarter of 2013 compared with the corresponding period of the previous year, to 518 million South Korean won ($462,500). Second-quarter sales decreased 3.3%, to won172.9 billion. For the first six months of 2013, Songwon reports a 23.5% fall in net profits, compared with the first six months of 2012, to won8.24 billion. First-half sales decreased 1.8%, to won347.3 billion. “Sales during the past six quarters have been relatively steady with the exception of the...
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