IHS Chemical Week

People & Business :: Earnings/Finance

Songwon reports huge fall in quarterly profits

4:24 AM MDT | August 22, 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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