South Korea's Steel, Metal Sector Shows Highest Profit Increase
Aug 19, 2003
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South Korea's steel and metal sector recorded the nation's highest profitability increase in the first half of the year, the Korea Stock Exchange (KSE) said.
The KSE said the sector's ratio of operating income to sales reached 14.75 percent on the back of rising prices of steel products, representing a year-on-year climb of 5.88 percentage points.
The ratio translates into 148 Korean won (U.S. $0.13) in profit for every 1,000 won of products sold, in contrast with the 89 won profit recorded in the first half of 2002.
The non-metal minerals sector recorded a 1.73 percentage point jump to 19 per cent while the distribution industry saw a 1.26 percentage point rise to 3.39 per cent in their respective profitability ratios.
Medical precision instruments recorded a profitability ratio of 5.86 percent with a 1.19-percentage point rise, followed by transportation equipment's 7.79-percent ratio with a 0.75-percentage point rise.
Telecommunications recorded the highest ratio of 26.36 per cent with a rise of 0.67 percentage points.
Meanwhile, the electronics sector fell 6.60 percentage points to 7.94 percent, and textiles crashed 3.66 percentage points to 5.60 percent. (Yonhap, Asia Pulse)
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