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(LEAD) Daelim Industrial Q2 net up 31 pct on base effect

All News 16:32 July 30, 2020

(ATTN: UPDATES with company's comments and details; ADDS photo)

SEOUL, July 30 (Yonhap) -- Daelim Industrial Co., a major South Korean builder, said Thursday its net profit rose 31.3 percent in the second quarter from a year earlier due to a lower base effect.

Net profit for the April-June period came to 191.7 billion won (US$160.5 million), compared with 145.9 billion won a year earlier, the company said in a regulatory filing.

Daelim Industrial said the normalization of Yeochun NCC boosted its bottom line.

Last year, the 50-50 joint venture between Daelim Industrial and Hanwha Solutions underwent regular maintenance work, which reduced Daelim Industrial's profits.

Yeochun NCC operates a naphtha cracking center in the country's southern industrial city of Yeosu. Naphtha is a key raw material for petrochemicals.

Daelim Industrial said sales rose 3.24 percent on-year to 2.54 trillion won in the second quarter, and operating profit increased 4.24 percent on-year to 310 billion won.

This file photo shows Daelim Industrial's corporate logo atop its main office in central Seoul. (Yonhap)


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