Korea Electric Growing Steadily – Analyst Blog
Zacks Market Commentaries (July 28th, 2009) Writes:
In the quarter, Korea Electric recorded a net profit of 240 billion won ($192.8 million) beating the consensus forecast of 461.6 billion won loss, compared with a net loss of 763.61 billion won, a year ago. Last year, the company suffered due to record escalation of feedstock costs. Korea Electric absorbed a 42% and 72% rise of LNG and coal costs, respectively, in the year-ago period.
Quarterly sales increased 7.4% year over year to 7.37 trillion won. This was boosted by higher demand coupled with two regulatory rate hikes of 4.5% and 3.9% in November 2008 and June 2009, respectively. The company registered an operating income of 233.6 billion
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