Samsung C&T Sees 73.9% Jump in Q2 Net Profit to 915.5 Billion Won
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Samsung C&T Corp. reports a 73.9% year-over-year increase in Q2 net profit to 915.5 billion won, driven by a diversified business portfolio despite global economic uncertainty.
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Samsung C&T Corp. is a key subsidiary of the Samsung Group, contributing significantly to the conglomerate's diversified revenue streams.
SEOUL, July 29 (Yonhap) -- Samsung C&T Corp., the construction and trading arm of South Korea's Samsung Group, said Wednesday its second-quarter net profit jumped more than 70 percent from a year earlier, driven by the solid performance of its diversified business portfolio.
Net profit for the April-June period rose 73.9 percent from a year earlier to 915.5 billion won (US$632.6 million), the company said in a press release. Operating profit increased to 1.03 trillion won from 752.6 billion won a year earlier, while sales climbed 19.7 percent on-year to 11.99 trillion won.
"Despite heightened global economic uncertainty and changes in the business environment, we maintained stable growth on the back of our diversified business portfolio and strong competitiveness," the company said.
The trading business delivered solid results, supported by strong performances in steel, chemicals and fertilizer trading. Overseas operations involving precision steel products, as well as renewable energy businesses, including solar power development, also posted stable earnings.
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Samsung C&T to maintain growth trajectory in Q3
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- Future challenges in maintaining growth
