Ssangyong Cement sees record-high profitability

Ssangyong Cement sees record-high profitability
Published: 06 February 2004

Ssangyong Cement Industrial Co. has hit a record high in corporate earnings.  The company reported yesterday that it posted 1.29 trillion won (US$1.1 billion) in sales and 233.8 billion won in operating profits last year. Sales increased by 10.4 per cent compared to those of the previous year, and operating profits soared 36.1 per cent. Its net profit tripled earnings in 2002, at 190.6 billion won last year. The company said that the cost reductions and a decrease of debt had led to the improvement in its bottom line.