SP Samhwa(former Samhwa Paint Industrial) posted an operating profit of 15.6 billion won in the first half of this year. That is up 239% from a year earlier.
SP Samhwa said on the 14th that on a consolidation basis, first-half sales were 321.9 billion won and operating profit was 15.6 billion won.
Sales rose 3.6% from the same period a year earlier (310.8 billion won). Over the same period, net profit was 12.5 billion won, up 98.4% from a year earlier.
The company improved the fundamentals of its overseas subsidiaries and, in Korea, expanded sales of high value-added products, lifting results despite a construction slump.
An SP Samhwa official said, "We reorganized our business portfolio by pursuing a high-performance materials business, including expanding fireproof coatings at key overseas bases, winning large projects, and introducing new items."
The official added, "In the domestic market as well, the repainting business has maintained solid results despite the construction downturn, and high value-added specialty product lineups such as fireproof coatings, automotive refinish, and UV have driven growth."