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Songwon third-quarter profit up over 46%

8:21 AM MST | November 26, 2013 | Francinia Protti-Alvarez

Songwon (Ulsan, South Korea) reported 8.31 billion Korean won ($7.82 million) in profit during the third quarter, the company reported today, 46% higher year-on-year. Ebitda stood at 10.71 billion won, about 40% below Ebitda for the third quarter last year. Sales meanwhile rose 0.8% Y-O-Y to 175.8 billion won. "This has been a tough quarter but, once again, we have continued to demonstrate our growth potential. We have been able to offset softening selling prices with raw material prices following the same trend, however we do not expect this to continue as economies start to rebound," Jongho Park, chairman and CEO of Songwon....

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