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Samsung Electro-Mechanics reports 84 pct plunge in Q2 profit

All News 11:14 July 22, 2016

SEOUL, July 22 (Yonhap) -- Samsung Electro-Mechanics Co., a maker of electronic components, on Friday said its operating profit for the second quarter of this year plunged 84 percent from a year earlier because of a weaker Japanese currency.

Samsung Electro-Mechanics posted 15.2 billion won (US$13.3 million) in operating profit for the April-June period and sales slightly rose to 1.6 trillion won, the company said in a regulatory filing.

A weaker Japanese currency helped Samsung's Japanese rivals boost sales overseas, and Samsung Electro-Mechanics' operating profit was hit by one-time expenditures due to the company's voluntary retirement program.


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