South Korean steelmaker Dongkuk Steel has announced that in 2013 it registered a net loss of KRW 120.9 billion ($114.9 million), narrowing down from KRW 235.1 billion in the previous year.
In 2013, the company's sales revenues decreased by 13.1 percent year on year to KRW 6.67 trillion ($6.33 billion), while its operating profit amounted to KRW 76.3 billion ($72.4 million).
According to Dongkuk Steel's statement, the company's sales decreased due to unfavorable market conditions and increased competition. However, the operating profit showed a turnaround by means of profit-focused sales strategies such as strict cost reductions and pioneering in the high-quality steel plate market.
Source:
http://www.steelorbis.com/steel-news/latest-news/dongkuk-steel-sees-decreased-revenues-in-2013-821987.htm
