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Korea Electric Power 2Q Net Loss Narrows; Beats Expectations

By Kwanwoo Jun

 

Korea Electric Power Corp.'s (015760.SE) second quarter net loss narrowed 55% on year thanks to lower prices of liquefied natural gas used for its thermal power plants.

Net loss for the quarter ended June was 412.18 billion Korean won ($341.6 million) compared with KRW918.59 billion in the same quarter a year earlier, the South Korean utility firm said in a regulatory filing Wednesday. The result beat a consensus forecast for a net loss of KRW726.42 billion in a FactSet poll.

Revenue during the period fell 2.0% on year to KRW13.071 trillion, with operating loss narrowing nearly 57% on year to KRW298.66 billion.

 

Write to Kwanwoo Jun at kwanwoo.jun@wsj.com

 

(END) Dow Jones Newswires

August 14, 2019 04:36 ET (08:36 GMT)

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