Kolon Industries net rises 4 pct in 2009

Kolon Industries-2009 earnings


By Nam Kwang-sik
SEOUL, Jan. 27 (Yonhap) -- Kolon Industries Inc., South Korea's leading textile
maker, said Wednesday that its net profit rose 4 percent last year from a year
earlier on a stronger won and a fall in raw material prices.

Net income stood at 98.1 billion won (US$84.4 million) in 2009, compared with
94.4 billion won a year ago, Kolon Industries said in a regulatory filing.
Sales rose 11.3 percent on-year to 2.22 trillion won last year and operating
profit jumped 43.7 percent to 180 billion won.
"The strong results of last year resulted from the South Korean won's strength
against the U.S. dollar and a drop in raw material prices," Kolon Industries
said.
The company plans to secure a new growth engine by expanding its electronics
materials and solar energy film businesses.
On Dec. 31, Kolon Industries was separated into two entities -- a holding company
named "Kolon" and an operating company named "Kolon Industries."
The two companies will be listed separately on the Seoul bourse on Monday.
Kolon Industries will pay a cash dividend of 450 won per a share for the 2009
fiscal year, while it will pay a cash dividend of 500 won per a preferred share.
Dividends will total 2.83 billion won, Kolon Industries said.
ksnam@yna.co.kr
(END)

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