Seah Besteel Holdings Q2 net profit down 1.1 pct to 47.3 bln won

Seah Besteel Holdings Corp. on Thursday reported its second-quarter net income of 47.3 billion won (US$34.6 million), down 1.1 percent from a year earlier. The company said in a regulatory filing that operating income for the April-June period fell 21.5 percent on-year to 64.6 billion won. Sales decreased 12.4 percent to 970.1 billion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 31.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency