LS Electric Q2 net income down 11.5 pct to 64.6 bln won

LS Electric Co. on Thursday reported its second-quarter net profit of 64.6 billion won (US$46.7 million), down 11.5 percent from a year earlier. The company said in a regulatory filing that it posted 109.6 billion won in operating profit for the quarter, compared with 104.9 billion won a year ago. Sales fell 5.8 percent to 1.13 trillion won. The earnings beat market expectations. The average estimate of net profit by analysts stood at 63.6 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency