Hyundai Steel 2013 net down 12 pct on fall in product prices


09/02/2014 09:41 AST

Yonhap reported that South Korea's second largest steelmaker, Hyundai Steel Company net profit dropped 11.7% last year from a year ago due to a fall in prices of its steel products.

Net income came to KRW 709.4 billion in 2013 compared with KRW 803.13 billion in the previous year. Sales fell 9.14% to KRW 13.53 trillion in the cited period and operating profit lost 14.24% to KRW 762.6 billion.

The yearly performance was poor as unfavorable market conditions pulled down the sales prices of steel products. For the Q4, net income rose 15.52% to KRW 262.69 billion from a year ago, with sales rising 10.5% to KRW 3.85 trillion. Operating profit more than doubled to KRW 264.89 billion in the same period.

Hyundai Steel set its sales target for 2014 at KRW 16.3 trillion up from KRW 13.53 trillion last year, despite its sobering forecast for business conditions. The company predicted global demand for steel products to rise slightly this year on the back of a rise in demand from advanced countries.

Steelguru
Global News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 146 148,595
DARTAKAFUL 1.22 13,774,341
ALMARAI 72.07 118,921
SABIC 96.32 8,260,066
RIBL 10.28 867,413
NBAD 11.2 5,696,134
EEC 20.69 1,320,869
Recent News

Dubai Investments increase cash dividend to 12%
Dubai Investments said on Tuesday the shareholders unanimously agreed to increase the cash dividend to 12 per cent from the earlier 10 per cent including a 5 per cent bonus shares. “Some shareholder

GFH distributes quarterly dividends to investors
GFH Capital said on Tuesday the recent distribution of quarterly dividends for a number of its investments and funds in line with its continued progressive dividend policy.

These include dis

Shuaa eyes acquisition after swinging to net profit in first quarter
Shuaa Capital swung back into net profits its chairman said on Tuesday, after registering losses in the past seven quarters. They also announced they are planning to buy a listed financial services f

Nasdaq breaks historic 6,000 barrier
Stock markets mostly rose Tuesday following the previous session’s record runs triggered by the first-round result of France’s presidential election.

Gains were strongest in the US, where t

Tourism key for growth and diversification in MENA
Tourism can be a key driver of the growth and economic diversification for the Middle East and North Africa region, concluded the 2017 Ministerial Forum organised by the World Tourism Organisation (U

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?