S.Korea's corporate revenue logs double-digit growth in Q1-Xinhua

S.Korea's corporate revenue logs double-digit growth in Q1

Source: Xinhua| 2022-06-16 13:17:30|Editor: huaxia

SEOUL, June 16 (Xinhua) -- South Korea's corporate revenue logged double-digit growth in the first quarter owing to domestic demand recovery and higher products price, central bank data showed Thursday.

Revenue by 10,315 manufacturers and 9,805 non-manufacturers subject to external audit increased 17.0 percent in the January-March quarter compared to the same quarter of last year, according to the Bank of Korea (BOK).

It was attributable to the domestic demand recovery, caused by eased social-distancing rules against the COVID-19 pandemic.

Higher products price, which came from higher commodity prices, also contributed to the corporate revenue growth.

Revenue by manufacturers expanded 18.6 percent, and sales by non-manufacturers advanced 15.4 percent.

The ratio of operating profit to revenue recorded 6.3 percent in the first quarter, down 0.1 percentage point from a year earlier.

The ratio for manufacturers gained 1.7 percentage points to 8.4 percent, while the figure for non-manufacturers fell 2.1 percentage points to 4.0 percent.

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