SK Gas shares are up about 6% in early trading on the 5th. The buying trend is interpreted as being driven by news that the company's operating profit for the second quarter of this year increased by 157% compared to the same period last year.
As of 9:05 a.m. on the same day, SK Gas shares are trading at 269,000 won, up 6.53% (16,500 won) from the previous trading day.
Earlier, SK Gas announced a preliminary consolidated operating profit of 120.7 billion won for the second quarter of this year. This represents a 157% increase compared to the same period last year. During the same period, sales amounted to 1.88 trillion won, reflecting a 13.9% increase, while net profit rose to 50.8 billion won, a 32.2% increase from the previous year.
In the securities industry, the target share price has also been raised. Hanwha Investment & Securities evaluated that solid earnings growth and shareholder returns are expected for SK Gas in the third quarter.
Lee Yong-wook, a researcher at Hanwha Investment & Securities, noted, "In the second quarter, while the operation of Ulsan GPS decreased, solid performance was maintained through LPG trading."
He added, "Starting from the third quarter, operation of Ulsan GPS is expected to return to normal, leading to sustained solid performance," and "In the future, shareholder returns are expected to expand with the completion of large-scale capital expenditure (CAPEX) and significant contributions to profit from investment projects."