Profits of listed firms rise in 2016, but revenues roughly flat
SEOUL, April 3 (Yonhap) -- The combined net profit of South Korea's listed companies rose last year, while their revenues were roughly flat, data showed Monday.
The data indicated that listed firms reported profits mainly on the back of job cuts and other cost-cutting measures last year, hit by sluggish domestic consumption and weaker exports.
According to the data by the Korea Exchange and the Korea Listed Companies Association, the total revenue of 533 listed firms, which closed their books in December last year, stood at 1,646 trillion won (US$1,478 billion), up 0.8 percent from 2015.
Their combined net profit climbed 18.46 percent on-year to 80.3 trillion won last year, while their operating profit rose 15.02 percent on-year to 121.3 trillion won, according to the data.
In an indication of their improved profitability, their average ratio of operating profit to sales increased to 7.37 percent last year, compared with 6.46 percent in 2015.
Kim Yong-koo, an analyst at Hana Investment & Securities, attributed the improved profitability to restructuring measures by big companies.
"The stagnant sales means that the global economic environment has not recovered to the level seen before the (2007-2008) global financial crisis," Kim said.
(END)
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
S. Korea expresses deep regret over Japanese PM's offering to war shrine
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
(LEAD) Bill Gates calls for S. Korea to play leading role in global health cooperation
-
Minor candidate proposes candidacy merger in DP leadership race
-
(2nd LD) Samsung heir Lee granted special presidential pardon
-
(News Focus) Samsung's Lee expected to solidify leadership, step up biz activities after receiving pardon
-
(LEAD) Yoon pledges to improve ties with Japan, offers economic aid in exchange for N.K. denuclearization
-
(3rd LD) THAAD issue not subject to negotiation: presidential office
-
Today in Korean history
-
(LEAD) N. Korea fires two cruise missiles toward Yellow Sea: S. Korean official
-
N. Korea fires two cruise missiles missile toward Yellow Sea: S. Korean official
-
(LEAD) S. Korea's new COVID-19 cases soar to 4-month high of over 180,000
-
(3rd LD) Yoon offers to carry out aid projects as long as N.K. shows denuclearization commitment
-
Yoon says he doesn't want change status quo changed by force in N. Korea