Earnings of South Korea’s major industrial groups are expected to fall during the first half (H1) of this year, dented by global market jitters, according to financial information provider FnGuide Monday.
The estimated earnings of Samsung Group companies that close the books in December rose 65.2 percent to 14.7 trillion won ($12.86 billion) in the first six months from a year ago. Sales went up 22.7 percent to 133 trillion won with net income up 54.1 percent to 12.2 trillion won. The estimation is the combination of first quarter (Q1) results and Q2 projections.
Sales of Samsung Electronics are expected to hit another quarterly record, posting 50.2 trillion won in Q2.
Hyundai Motor Group companies are expected to gain 14.2 percent in H1 operating profits (OP) to 9.9 trillion won from a year ago, with sales and net profits up 10.5 percent and 13.1 percent, respectively.
Sales of Hyundai Motor and Kia Motors are estimated to reach 21.8 trillion won and 13 trillion won, respectively in Q2, both new records.
In contrast, LG Group companies are expected to post 73.3 trillion won in H1 sales, up 2.4 percent from a year ago, but net profits are expected to fall 2.3 percent. OPs of LG Group companies are forecast to rise 6.8 percent.
SK Group companies would see its H1 sales rise 8.0 percent to 127 trillion won, but OPs and net profits fall to 21.7 percent and 35.4 percent, respectively.
OPs of Lotte Group and GS Group are also expected to fall.
[Written by Moon-hak Hyun / edited by Soyoung Chung]
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