Hanwha Aerospace gains on the back of increased exports

12 November 2019

South Korean company Hanwha Aerospace has posted strong quarterly gains on the back of growing exports, the company said on 11 November.

In a filing to the Korea Stock Exchange Hanwha Aerospace said its revenue for the July-September quarter increased 26% year on year to KRW1.31 trillion (USD1.12 billion).

The company’s operating profit more than doubled to KRW57.1 billion, while net profit climbed to KRW86 billion compared with a net loss of KRW10.9 billion a year earlier.

Hanwha Aerospace attributed its quarterly growth to its increased emphasis on boosting its “global competitiveness”. It also pointed to increased exports of “defence industry products” but did not elaborate.

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