The Korea Herald

지나쌤

7 in 10 listed firms suffer 'earnings shock' in Q4

By KH디지털2

Published : Feb. 20, 2017 - 11:51

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Nearly seven in 10 listed South Korean companies failed to meet market expectations in their fourth-quarter operating profits last year, data showed Monday.

FnGuide, a financial information provider here, released the dismal report after analyzing the short-term performances of 195 listed firms with earnings estimates by local brokerages available.

An image of South Korea's share prices and office buildings (Yonhap) An image of South Korea's share prices and office buildings (Yonhap)

Among them, 132 companies, or 67.7 percent, recorded lower operating profits than expected during the October-December period.

Hanjin Kal Corp., the nation's top flight service firm, reaped only 1.7 billion won ($1.48 million) in operating income, far below 20.9 billion won expected by multiple securities firms.

They also expected Mirae Asset Daewoo Co., a leading brokerage, to post 20.5 billion won in operating profit, but it actually lost

182.3 billion won.

Daewoo Engineering & Construction Co. was projected to gain

77.2 billion won, but it posted an operating deficit of 767.8 billion won as all potential loss-making businesses were counted in its latest earnings report.

On the other hand, department stores and manufacturers of display products, smartphones and memory chips recorded higher-than-expected operating profits in general. (Yonhap)