[KCC Glass]
[KCC Glass]

Construction slump persists as net loss hits 11.81 billion won

Firm vows to expand high-value products, diversify markets to lift margins

KCC Glass swung to an operating profit in the second quarter on a consolidated basis.

The glassmaker posted a preliminary consolidated operating profit of 4.81 billion won ($3.37 million) in the second quarter, reversing an operating loss of 35.43 billion won in the same period a year earlier, the company disclosed Wednesday. The result also marked an improvement from the operating loss of 10.09 billion won recorded in the previous quarter.

Preliminary consolidated sales for the quarter rose 12.5 percent year-on-year to 577.15 billion won, up from 512.92 billion won in the same period last year.

The net loss narrowed to 11.81 billion won from 35.34 billion won a year earlier. The pre-tax loss from continuing operations came in at 7.74 billion won, also down from the prior-year figure.

"Sales and operating profit increased through streamlined production and organizational operations," a company official said. "We plan to improve profitability by expanding the share of high-value-added products and diversifying our markets."


hong@heraldcorp.com