SEOUL, July 26 (Yonhap) — Poongsan Corp. on Friday reported its second-quarter net profit of 111.3 billion won (US$80.3 million), up 147.6 percent from a year earlier.

Operating profit for the April-June period was 161.3 billion won, up 199.4 percent from a year ago, the company said in a regulatory filing. Sales rose 19.1 percent to 1.23 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 92.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency