Sebang posts its 1H 2011 results

Red ink adorned the bottom of Sebang’s balance sheet at the end of the first half despite an improvement in revenue.

The Korean carrier saw revenue increase by 4.3% to 287.4 billion. But the company’s operating profit sank from a loss of KRW 5.6 billion to 18.6 billion, down by 23.1%, in the opening 6 months of 2011. Rising operating costs were cited for the losses.

Also in the first half of 2011, Sebang’s net profit slid to 12.6 billion, down 34% compared with the same period of last year. <김보람 기자 brkim@ksg.co.kr>