HD Hyundai Oilbank's 1.82 trillion won operating profit

HD Hyundai Oilbank posted second-quarter operating profit of 1.82 trillion won ($1.29 billion), swinging from a loss a year earlier as profitability improved in lubricating base oils and petrochemicals.

Revenue rose 44.9 percent to 9.48 trillion won ($6.68 billion), and net income reached 1.22 trillion won ($860 million), from a net loss a year earlier. Profit before tax from continuing operations totaled 1.65 trillion won ($1.16 billion), while net income attributable to owners of the parent company was 1.08 trillion won ($762 million).

Prolonged geopolitical risks in the Middle East increased volatility in international oil prices and left supply-and-demand conditions unstable.

For the second half, HD Hyundai said it would continue to introduce alternative crude oils and flexibly operate crude procurement measures to help maintain stable domestic energy supplies.

"In the second quarter, we delivered solid performance across all businesses, including shipbuilding, construction machinery, refining and power equipment," an HD Hyundai official said. "We will continue to focus on securing profitability through selective orders, identifying new markets and improving our product mix."