Hyosung Advanced Materials Q2 net income up 88.7 pct to 26.2 bln won

Hyosung Advanced Materials Corp. on Friday reported its second-quarter net profit of 26.2 billion won (US$18.9 million), up 88.7 percent from a year earlier. The company said in a regulatory filing that it posted 65.8 billion won in operating profit for the quarter, compared with 48.6 billion won a year ago. Revenue rose 3 percent to 840.5 billion won. The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 32 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency