Hanwha Chemical 2009 net rises more than 8-fold

By Nam Kwang-sik
SEOUL, Feb. 17 (Yonhap) -- South Korea's Hanwha Chemical Co. said Wednesday that
its net profit rose more than eight-fold last year from a year earlier, thanks to
gains from equity investment in its affiliate.
Net profit came to 343.4 billion won (US$300 million) in 2009 compared with 41.5
billion won a year ago, Hanwha Chemical said in a regulatory filing.
Sales stood at 3.03 trillion won last year, little changed from the previous
year, while operating profit rose 59.3 percent on-year to 410.8 billion won in
2009.
"The strong performance last year stemmed from gains from equity investment in
our unit Yeochun NCC Co.," the company said.
Shares of Hanwha Chemical closed up 1.75 percent at 14,550 won on the Korea
Exchange. The earnings were announced after the stock market closed.
On the back of the brisk results of last year, Hanwha Chemical plans to increase
its capital spending on new businesses like solar energy, the company said.
ksnam@yna.co.kr
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