Power equipment maker Iljin Electric(103590) is up more than 16% in early trading on the 12th after reporting second-quarter results that beat market expectations.
As of 9:18 a.m., Iljin Electric was trading at 72,300 won, up 10,500 won (16.99%) from the previous session on the Korea Exchange.
On the 11th, Iljin Electric said its operating profit for the second quarter of this year was 72 billion won, up 91% from a year earlier. Revenue for the same period rose 22% to 637.4 billion won. This is the highest second-quarter performance on record for Iljin Electric.
On a cumulative basis for the first half, it also set an all-time high. Iljin Electric's first-half revenue was 1.1435 trillion won and operating profit was 122.7 billion won.
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