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S-Oil swings to black in Q2

Economy 10:07 July 27, 2021

SEOUL, July 27 (Yonhap) -- S-Oil Corp. on Tuesday reported its second-quarter net income of 410.7 billion won (US$357.1 million), swinging from a loss of 66.9 billion won a year earlier.

Operating profit for the April-June period was 571 billion, compared with a loss of 164.3 billion won a year ago, the company said in a regulatory filing. Sales rose 94.4 percent to 6.71 trillion won.

The operating profit was 5.3 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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