(MENAFN- QNA) The number of South Korean builders reporting operating losses in the second quarter of 2014 rose compared to the previous quarter, industry-wide data showed Thursday.
South Korea's News Agency (Yonhap) reported today that the earnings before interest and taxes (EBIT) of 21 local builders that had an investment-grade status better than BBB dropped 56% compared to the first quarter.
This is in contrast to the 13.1% on-quarter increase in sales tallied for the companies checked. The net losses before taxes stood at $416.8 million.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.