Q1 net profit for companies listed on KOSPI down 47.8% on-year: Korea Exchange
By : Arirang News
Published On: 2020-05-19
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First quarter profits at major firms in South Korea have taken a massive hit.
According to the Korea Exchange and the Korea Listed Companies Association, first quarter net profit for 592 companies listed on the country's benchmark KOSPI came to a total of about 9 billion U.S. dollars,... down roughly 48 percent on-year.
Operating profit was also down by around 31 percent.
The damage was especially severe for companies in parts of the service sector that require face-to-face interaction.
Their net profit was down about 76 percent.
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