HS Hyosung Advanced Materials(298050) said in a filing on the 30th that operating profit on a consolidation basis in the second quarter rose 32.2% from a year earlier to 77.6 billion won.
Revenue for the same period increased 13% to 952.7 billion won, and net profit jumped 3,128.6% to 45.2 billion won.
The tire reinforcement materials business posted revenue of 549.3 billion won and operating profit of 59.4 billion won, driving earnings growth. With the start of the peak season, stable revenue was maintained, and the effect of higher selling prices due to rising materials and supplies costs was also reflected.
Next, industrial yarn and interior revenue was 183.3 billion won, followed by the spandex and film institutional sector at 135.4 billion won. Carbon fiber and aramid revenue was 84.7 billion won.