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Hyosung Corp earns $88.7mn in 2006

14
Mar '07
Korean textile giant Hyosung Corp became profitable in 2006. Dynamic growth of heavy industry unit and sale of property worth KRW128.1 billion brought high income gains and operating profits to Hyosung.

Sources informed that company achieved net income of KRW83.5 billion (US $88.7 million) last year, compared to net loss of KRW60.2 billion in 2005. Operating profits surged 31.5 percent to KRW11.1 billion in 2006, but revenue dropped 1.5 percent to KRW478 billion.

Hyosung has set a sales target of KRW5 trillion and operating profit target of KRW200 billion for 2007, considering last year's performance.


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