Cosmax Reports Massive Increase in Q2 Net Profit


On Thursday, Cosmax Inc. announced an impressive second-quarter net income of 27.4 billion won (US$20.8 million), representing a 414.4 percent year-over-year surge. Operating profit for the April-June period was 46 billion won, a 167.3 percent jump from the same period last year, while revenue rose 18.3 percent to 479.3 billion won.

The results far exceeded market predictions, with the average analyst estimate of net profit standing at 23 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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