South Korean refiner Hyundai's Q1 profit drops 43%

摘要

Seoul-South Korea's fourth-largest refiner, Hyundai Oilbank, May 20 said first-quarter net profit slid 42.8% year on year to Won 203.9 billion ($187.9 million), largely due to capital gains in the year-ago period from the sale of its petrochemical business. But the company swung to an operating profit of Won 213 billion in the first quarter, compared with an operating loss of Won 19.5 billion a year ago, while first-quarter sales jumped 34.5% year on year to Won 4.21 trillion.