Four Korean firms post second-quarter earnings with mixed results

HS Hyosung, Noubou, SUN&L and Kolmar BNH each filed preliminary second-quarter results on Thursday, showing a mix of profit surges and turnarounds across the group.

HS Hyosung said its consolidated operating profit jumped 301.7 percent from a year earlier to 35.8 billion won ($24.8 million), driven by a 24.9 percent rise in sales to 431 billion won ($299 million). Industrial materials accounted for the bulk of the revenue, generating 246 billion won, or 67.1 percent of total sales, while the logistics forwarding business contributed 110 billion won.

Noubou posted a 383 percent surge in net income to 3.7 billion won ($2.56 million) alongside a 46.7 percent increase in revenue to 51.9 billion won ($36 million), with operating profit reaching 3.71 billion won ($2.57 million). The company attributed the strong domestic fertilizer sales to contracts with the National Agricultural Cooperative Federation, while overseas revenue also expanded.

The firm recently secured an initial order for 280,000 tablet-form plant nutrients from the US home gardening giant Scotts and plans to expand production capacity for controlled-release fertilizers to 37,000 tons annually by adding a new 20,000-ton line to its existing 17,000-ton facility.

SUN&L reported a swing to operating profit in the second quarter, posting a gain of 900 million won ($624,523) compared with a loss a year earlier. Net income for the period stood at 10.8 billion won ($7.49 million) on revenue of 27.7 billion won ($19.2 million).

Kolmar BNH, a developer and manufacturer of health functional food and cosmetic ingredients, recorded an 11.8 percent increase in operating profit to 11.7 billion won ($8.11 million) on revenue of 125 billion won ($86.7 million).