S. Korean listed firms' net slumps 81.5 pct

SEOUL, May 19 (Yonhap) -- South Korean listed companies' earnings plunged 81.5
percent in the first quarter from a year earlier, weighed down by a global
economic slump coupled with a weak local currency, the bourse operator said
Tuesday.
The combined net profit of 572 listed companies stood at 2.57 trillion won
(US$2.1 billion) in the January-March period, compared with 13.85 trillion won a
year earlier, the Korean Exchange (KRX) said.
Their aggregate sales however, inched up 2.9 percent to 216.16 trillion won with
operating profits falling 56.8 percent to 7.84 trillion won, the bourse operator
said in the statement.
"A slowdown in the real economy and a downswing in the South Korean won led the
firms to register falling nets," it added.
In the three months, 31.2 percent of the companies booked net losses, compared
with 23.5 percent a year earlier, KRX said.
pbr@yna.co.kr
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