Korea Electric Power : 2Q Net Loss Narrows; Beats Expectations
By Kwanwoo Jun
Korea Electric Power Corp.'s (015760.SE) second quarter net loss narrowed 55% on year thanks to lower prices of liquefied natural gas used for its thermal power plants.
Net loss for the quarter ended June was 412.18 billion Korean won ($341.6 million) compared with KRW918.59 billion in the same quarter a year earlier, the South Korean utility firm said in a regulatory filing Wednesday. The result beat a consensus forecast for a net loss of KRW726.42 billion in a FactSet poll.
Revenue during the period fell 2.0% on year to KRW13.071 trillion, with operating loss narrowing nearly 57% on year to KRW298.66 billion.
Write to Kwanwoo Jun at firstname.lastname@example.org