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(LEAD) KEPCO's operating profit rises 5.8 pct in 2016

All News 18:35 February 06, 2017

(ATTN: UPDATES with details in first 3 paras)

SEOUL, Feb. 6 (Yonhap) -- Korea Electric Power Corp., a major public utility firm in South Korea, announced Monday that its operating profit increased 5.8 percent on-year in 2016, aided by increased sales and reduced costs.

The company, widely known as KEPCO, posted a record high of 12 trillion won (US$10.5 billion) in operating profit, with its full-year revenue growing 2.1 percent to 60.1 trillion won.

Its operating income was 11.35 trillion won in 2015.

But its net profit plunged 45.5 percent to 7.3 trillion won in 2016 from a year earlier mainly on a base effect.

The electricity supplier's net profits sharply widened to 13.4 trillion won in 2015, boosted by reduced fuel costs and the sale of its main building in the affluent Gangnam Ward to Hyundai Motor Group.

(LEAD) KEPCO's operating profit rises 5.8 pct in 2016 - 1


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