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Hankuk Electric net profit sharply higher

South Korea“s Hankuk Electric Glass said it recorded net profit of 171.7 billion won (US$ 136.7 million), up 130.5% on the year.
The leading electric bulb maker for monitors and screens said in a pu…

South Korea“s Hankuk Electric Glass said it recorded net profit of 171.7 billion won (US$ 136.7 million), up 130.5% on the year. The leading electric bulb maker for monitors and screens said in a public notice that its sales climbed to 710.4 billion won last year compared to 571.7 billion won in 1999. Operating profit grew to 251.1 billion won in 2000 from 127.2 billion won in 1999. The company said it would pay 2,000 won of dividend per share to shareholders of record 31 December 2000. The company said that improved productivity, decreased financial costs and focus on value-added products, contributed to the increase in earnings. The addition of a new assembly line added another 40 to 50 billion won to sales.

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