SEOUL, Sept. 10 (Xinhua) -- South Korea's corporate revenue turned downward in the second quarter owing to the negative effect of the U.S. tariffs imposition, central bank data showed Wednesday.
Revenue for 12,962 manufacturers and 13,105 non-manufacturers subject to external audit, excluding financial firms, fell 0.7 percent in the April-June quarter from three months earlier after mounting 2.4 percent in the January-March quarter, according to the Bank of Korea (BOK).
Sales by manufacturers declined 1.7 percent in the second quarter, taking a downward turn from an increase of 2.8 percent in the first quarter.
Revenue for non-manufacturers added 0.3 percent in the second quarter after expanding 1.9 percent in the previous quarter.
Corporate profitability worsened. The ratio of operating profit to revenue retreated to 5.1 percent in the April-June quarter from 6.2 percent in the same quarter of last year.
The ratio for manufacturers dropped from 7.1 percent to 5.1 percent in the cited period, while the reading for non-manufacturers was unchanged at 5.1 percent.
The debt-to-equity ratio for domestic companies stood at 89.8 percent in the second quarter, almost unchanged from 89.9 percent in the previous quarter. ■
