Revenue Up 1.4%, yet Income Down 14.9%, Expecting Affirmative in Q1-2019
Korea Zinc announced its 2018 financial statement which ended off the 1.4 percent rise of revenue on sale to 5,527.7 billion won, but the 14.9 percent drop of operating income to 647.5 billion tons, while sending the net earning to 460.5 billion won, down 13.2 percent year on year respectively. .
Korea Zinc's disappointed results came on the fall of the LME zinc price and weakened pure ore TC, the market analysts said. Although operating income dampened, the improved production efficiency and strength of precious metals prices could contribute to the gain of revenue on sale, they added. Recently, the LME zinc price shows a rebound flow and the expecting hike of the pure ore benchmarking TC will boost the first quarter 2019 operating income, the analysts presented.
Meanwhile, Korea Zinc has planned to set the 2019 zinc sales volume at 650,000 tons as in the earlier year figure while lead sales volume set at 410,000 tons similar to the previous year too, and silver sales volume at 1,992 tons, increasing 92 tons respectively. Korea Zinc is expected to produce 650,000~670,000 tons for zinc and 410,000~425,000 tons for lead during 2019 respectively.
Source: Steel&Metal News |
