Korean software vendor Hancom’s Q2 OP breaks $9 million threshold

2017.08.08 14:16:11 | 2017.08.08 16:27:05
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South Korea’s indigenous office software developer Hancom Inc. said on Monday that its three-month operating profit broke the 10 billion won threshold in the second quarter for the first time since its inception in 1990.

Hancom reported an operating profit of 10.5 billion won ($9.3 million), up 14.2 percent on year, in the second quarter ended June on revenue of 25.8 billion won, up 9.6 percent.

It earned 10 billion won in operating profit on a consolidated basis during the second quarter, 6.4 percent higher from a year ago. Sales rose 8.7 percent to 28.7 billion won, while net income jumped 53.4 percent to 7.2 billion won.

The company owed the strong performance to its office software Hancom Office NEO released last year as a local competitor to Microsoft Office programs.

“We are confident that our full office package servicing PC, Mobile and Cloud will be welcomed as a substitute for MS Office software in emerging markets including Russia, China and India,” said an official at Hancom.

Shares of Hancom Inc. Tuesday closed at 16,450 won, unchanged from the previous session.

By Oh Chan-jong

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]

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