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FINWIRES

Hyundai Glovis' Profit Drops 27% in Q2

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Hyundai Glovis' (KRX:086280) profit attributable to owners of the parent fell 27% to 368.3 billion won for the second quarter from 503.2 billion won a year earlier.

The logistics company's net sales jumped 16% to 8.7 trillion won for the three months ended June 30 from 7.5 trillion won in the prior-year quarter, according to a Korea Exchange filing on Thursday.

For the first half, attributable profit fell 21% to 708.6 billion won from 901.2 billion won, while cumulative net sales rose 12% to 16.5 trillion won from 14.7 trillion won.

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