On Thursday, Hanon Systems announced a second-quarter net income of 110.6 billion won (US$84 million), a remarkable increase of 658.5 percent year-on-year. Operating profit for the April-June period was 143.5 billion won, a jump of 138.8 percent from the same period in the previous year. Sales also rose 15.3 percent to 2.42 trillion won.
The results exceeded market expectations. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, analysts had predicted a net profit of 50.8 billion won.