Korea Aerospace Industries (KAI)(047810) Industries (KAI) said on the 29th that, on a consolidation financial statements basis, it was tentatively tallied to have posted second-quarter revenue of 1.1679 trillion won and operating profit of 48.4 billion won this year.

According to the Financial Supervisory Service's electronic disclosure system, revenue rose 41% from a year earlier, while operating profit fell 43.1%. Net income came to 69.1 billion won, down 35.2% from a year ago.

On the 13th in Sacheon, South Gyeongsang Province, the second mass‑production KF-21 homegrown supersonic fighter and a multi-purpose unmanned demonstrator are unveiled at Korea Aerospace Industries (KAI). /Courtesy of News1

Both revenue and operating profit fell short of the securities market consensus. KAI said, "Temporary delivery delays of the Miron light armed helicopter affected the results."

KAI's cumulative results for this year are showing a trend similar to the second-quarter results. Cumulative revenue this year was tallied at 2.2606 trillion won, up 48% from a year earlier, while operating profit was 115.6 billion won, down 12.4%.

KAI plans to improve earnings in the second half. The KF-21, the next-generation Korean fighter jet that officially completed system development on the day, will begin full-scale deliveries to the military. The FA-50 light attack aircraft is also expected to be delivered smoothly to Malaysia.

A KAI official said, "Miron is also expected to resume supply after addressing corrosion issues, so results will improve."

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