SINGAPORE (ICIS)--Songwon Industrial Group slumped to a net loss of Korean won (W) 6.71bn ($5.99m) in the second quarter of this year from a net profit of W518m in the same period a year earlier, weighed by higher production costs and reduced output, the South Korean producer said on Thursday.
Its sales were largely flat at W172.9bn in April-June this year, with operating profit shrinking 85.1% to W1.55bn, the company said in a statement.
For the first six months of this year, the company incurred a net loss of W11.6bn, reversing a net profit of W8.24bn in the same period last year.
Sales fell 3.3% year on year to W335.8bn in January-June 2014.
($1 = W1,030)