South Korea: Hanil Cement's Operating Profit Soars by 109% in the Last Year
Hanil Cement reports a significant increase in its annual operating profit, with a 109% rise to 246.6 billion won, attributed to price hikes and cost reduction efforts.
Hanil Cement has announced a remarkable year-over-year growth in its operating profit for the last fiscal year, with a 109% increase, reaching 246.6 billion won. This financial achievement is primarily due to strategic price adjustments and rigorous efforts to reduce manufacturing costs. The company also reported a substantial rise in net profit, which more than doubled from 87.6 billion won to 185.1 billion won. Sales revenue saw a 21% increase, climbing from 1.4876 trillion won to 1.8007 trillion won.
A spokesperson from Hanil Cement attributed this financial success to the company's proactive measures in adjusting sales prices and reducing production costs, which significantly improved profitability. This financial update underscores Hanil Cement's strong performance in a competitive market, reflecting its effective management strategies and operational efficiency.
Source: 아시아투데이
