Songwon Industrial Group Announces Earnings Results for the First Quarter of 2017
Songwon Industrial Group announced earnings results for the first quarter of 2017. For the quarter, the company's net profit fell by 32.1% year on year to KRW 8.28 billion, weighed down by tight raw material supply and unfavourable currency effects. Sales fell by 4.4% year on year to KRW 175 billion in the first quarter, with earnings before interest, tax, depreciation and amortisation (EBITDA) down by 40.5% at KRW 21.2 billion.