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Songwon reports huge rise in profits

11:27 AM MST | November 12, 2012 | Deepti Ramesh

Songwon Industrial (Ulsan, Korea) reported a more than doubling in net profits for the first 9 months of 2012, compared with the year-ago period, to 16.5 billion South Korean won ($15 million). Sales for the 9-month period increased by 11.9%, to won528 billion. In the third quarter of 2012, Songwon recorded net profits of won5.7 billion and sales of won174.4 billion. Comparative figures for the year-ago quarter were not disclosed. In the second quarter of 2012, Songwon reported net profits of won9.7 billion and sales of won179 billion. The global economic...

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