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Korea Gas swings to black in Q2

Earnings 14:18 August 11, 2022

SEOUL, Aug. 11 (Yonhap) -- Korea Gas Corp. on Thursday reported a second-quarter net profit of 151.4 billion won (US$116.1 million), turning around from a loss of 52.6 billion won a year earlier.

The company said in a regulatory filing that operating profit for the April-June period rose 433.3 percent on-year to 289.4 billion won. Sales increased 82.9 percent to 8.85 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 69.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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