SP Samhwa swung to a profit in the first quarter this year, posting 1.82077 billion won in operating profit on a consolidation basis.
SP Samhwa said on the 15th that first-quarter sales on a consolidation basis came to 144.3686 billion won, with operating profit of 1.82077 billion won. Sales rose 8.28% from a year earlier. Net profit also turned to a surplus at 2.97235 billion won.
A SP Samhwa official said, "Although a weak won raised costs, operating profit increased from a year earlier as the company diversified its business portfolio around high value-added items and improved management efficiency across the company."
The official added, "Under the principle of 'companionship and trust,' we plan to secure stable sales and profit despite internal and external volatility through solid supply chain management and a business portfolio focused on profitability."
SP Samhwa marked its 80th anniversary in March and changed its previous name, Samhwa Paint Industrial, to SP Samhwa.