[EQUITIES] HMC Investment Securities forecasts POSCO to post 10% rise in H2 operating profit

[THE INVESTOR] HMC Investment Securities on July 22 forecast steelmaker POSCO will see its operating profit rise 10 percent from the first half to 1.43 trillion won (US$1.25 billion) on a non-consolidated basis. The brokerage also downplayed POSCO’s lackluster second-quarter earnings, saying it was caused by a delay in POSCO Engineering & Construction’s project building a steel mill in Brazil. The issue will likely be resolved by the fourth quarter, it said. China’s steel prices are also expecte

July 22, 2016

[EQUITIES] JB Financial Group to beat Q2 earnings expectations

[THE INVESTOR] JB Financial Group is likely to report stronger-than-expected second quarter earnings, propelled by a robust asset growth, local brokerage house Mirae Asset Securities said on July 21. “The group is expected to post 42.5 billion won (US$37.25 million) net profit in Q2 to exceed the current market consensus forecast of 40.3 billion won,” said Kang Hye-seung, an analyst at Mirae Asset said. Kang said JB Financial Group’s profit surged as its subsidiary Gwangju Bank showed a high gro

July 21, 2016