(MENAFN) South Korean listed firms registered a decline in sales and earnings in the first half of the year, but they managed to enhance operating profits by cutting raw material costs.
Sales of 506 traded firms totaled USD694.8 in the January-June period, slipping 4.7 percent from a year ago, thus their combined operating profit improved 7.3 percent on-year, while their net profit edged down 1.4 percent.
Excluding Samsung which posted disappointing earnings in the first half, the operating and net profits of other companies jumped 19.2 percent and 11.8 percent, respectively, from 2014.
"The overall business environment remains unfavorable although companies enhanced profits from restructuring efforts and falling raw material costs due to the slowdown in the Chinese economy," a researcher said.
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