MK Electronics Sees 132% Surge in Q1 Operating Profit on Semiconductor Materials Growth
Operating Profit of Chinese Subsidiary Also Up 204%
Semiconductor materials company MK Electronics posted strong results in the first quarter, supported by improvements in the semiconductor market and growth in its materials division.
On May 15, MK Electronics announced that, on a standalone basis, sales for the first quarter of this year reached 288.7 billion won and operating profit was 8.6 billion won. These figures represent increases of 86% and 132%, respectively, compared to the same period last year.
Based on the core semiconductor materials business, which combines the Korean headquarters and its Chinese subsidiary, sales amounted to 387 billion won and operating profit was 16 billion won.
During the same period, on a consolidated basis, sales came in at 450.1 billion won, operating profit at 15.1 billion won, and net profit at 11.5 billion won.
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A company representative emphasized, "We expect the consolidated performance to gradually improve this year, as the trend of increased subsidiary orders that began last year continues alongside the growth momentum in the semiconductor materials division."
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