SP Samhwa said Friday its first-half operating profit reached 15.6 billion won ($11 million), up 240.8 percent from a year earlier.
First-half sales came in at 321.9 billion won, up 3.6 percent year on year.
Second-quarter operating profit rose 69 percent from the same period last year to 13.75 billion won, while second-quarter sales edged up 0.02 percent to 177.55 billion won.
SP Samhwa attributed the strong earnings to a combination of successful structural improvements at its overseas subsidiaries and a domestic strategy focused on high-value-added products.
"At our key overseas bases, we actively pursued high-performance materials businesses — expanding fireproofing coatings, securing large-scale project contracts and introducing new product lines — and restructured our business portfolio," a company official added.
In the domestic market, the repainting business maintained solid performance despite a construction sector slowdown. High-value-added specialty products, including fireproofing coatings and UV-curable automotive refinish coatings, drove growth and underpinned the strong results.
boo@heraldcorp.com
