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Regions :: North Asia :: Korea

Songwon swings to loss

4:35 AM MDT | August 14, 2014 | Deepti Ramesh

Songwon Industrial (Ulsan, South Korea) reports a net loss of 6.71 billion South Korean won ($6.6 million) for the second quarter of 2014 compared with a net profit of won518 million in the year-ago quarter. Songwon’s second-quarter sales remained unchanged at won172.9 billion. For the first six months of 2014, Songwon reports a net loss of won11.60 billion compared with a net profit of won8.24 billion in the first six months of 2013. First-half sales decreased 3.3%, to won335.8 billion. Increased production costs and reduced output due to technical issues...

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