Profitability of listed companies worsens in 2nd quarter

By Park Sae-jin Posted : September 26, 2014, 18:30 Updated : September 26, 2014, 17:06

 

Profitability of listed South Korean businesses worsened in the second quarter from the same period last year as a stronger won hit exporters, the central bank said Friday. 

Those companies earned 42 won per 1,000 won before corporate tax, down from 54 won a year earlier, the Bank of Korea (BOK) said, based on a survey of 1,651 companies, mostly manufacturers, that are listed in the main bourse.

Their profitability plunged to 33 won per 1,000 won in 2008, when the country was hit hard by a financial crisis, from 69 won in the previous year. It rose to 53 won in 2009 and 62 won in 2010, but dropped again to 52 won in 2011 and 47.2 won in 2012.

 
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