[Infostock Daily = Reporter Kim Jong Hyo] Kolon Industries announced its sales of 942.3 billion won and operating profit of 36.8 billion won in the second quarter of 2020. The figure is down 18.0% and 40.3%, respectively, compared to the same period last year.
Kolon Industries explained that sales in the second quarter of this year decreased slightly compared to the previous quarter due to a decrease in demand for auto materials due to the new coronavirus infection (COVID19) and regular maintenance of the petroleum resin. Operating profit reached 36.8 billion won, up 39% from the previous quarter, due to solid gains in the chemical sector, a turnaround in the fashion sector and a surplus in the film business, including CPI.
Despite the continued influence of COVID 19, Kolon Industries plans to overcome external risks and maintain a solid performance stance based on the competitiveness of petroleum resin, film, electronic materials and high value-added products.
Reporter Kim Jong Hyo kei1000@infostock.com
