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Songwon's Second-Quarter Profits Rise

2:58 AM MDT | October 7, 2010 | Kerri Walsh

 Songwon (Ulsan, Korea) reported second-quarter net income of KRW7 billion ($6.2 million), on sales of KRW 139.7 billion. Year-ago results were not provided. Songwon says income and sales increased 12% each sequentially. "The results have been achieved despite a continued severe increase in raw material costs, which is not showing signs of slowing down, as well as a particularly volatile currency situation," says chairman and CEO Jongho Park. “The businesses are putting in very solid performances, and we continue to grow quarter after...

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