Korea Electric Power swings to profits in Q2

Korea Electric Power Corp. on Thursday reported its second-quarter net income of 114.4 billion won (US$83.1 million), swinging from a loss of 1.9 trillion won a year earlier. Operating profit for the April-June period was 1.25 trillion, compared with a loss of 2.27 trillion won a year ago, the company said in a regulatory filing. Sales rose 4.3 percent to 20.47 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 733.3 million won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source : Yonhap News Agency