Agricultural machinery corporations TYM Co. posted an operating profit of 27.6 billion won in the second quarter this year. That was up 13.9% from a year earlier.
TYM Co. said on the 6th that, on a consolidation basis for the second quarter this year, revenue came to 262.5 billion won and operating profit to 27.6 billion won, based on preliminary figures. Revenue stayed at a similar level to a year earlier. Net profit rose 110.8% to 26.5 billion won.
First-half revenue was 552.2 billion won, up 13.1% from a year earlier. Operating profit increased 59.1% to 62.6 billion won, and net profit rose 148.0% to 56.7 billion won. The first-half operating margin and net margin were 11.3% and 10.3%, respectively.
Stable business operations and sales strategy focused on the North American market led to improved profitability. TYM Co. strengthened product competitiveness by introducing strategic new models aimed at North America. It improved results by increasing the sales share of medium- and large-horsepower tractors, which are relatively more profitable.
The company also worked to strengthen service competitiveness. It ran technical training programs for dealers in North America and improved the response system for parts supply. Despite uncertainties such as the United States' tariff policy and war in the Middle East, it is cited as a reason the company maintained growth.
Chief Executive Kim So-won of TYM Co. said, "These results prove the competitiveness we have built by providing the products and services customers want in the global market," and added, "We will continue to respond preemptively to the changing agricultural environment and pursue sustainable growth in the global market based on differentiated product competitiveness and technological innovation."