Seoul: HL Mando Co. on Friday reported its second-quarter net income of 9.9 billion won (US$7.2 million), marking a 16.6 percent decline from the same period last year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the April-June quarter increased by 16.2 percent year-on-year, reaching 104.1 billion won. Sales also saw an upward trend, rising 11.8 percent to total 2.4 trillion won.
Despite these increases in operating profit and sales, the net income figures did not meet market expectations. Analysts, as surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency, had anticipated an average net profit of 54.9 billion won.