Samsung Group Share Value Surges $33b in 1 Month
World Economy

Samsung Group Share Value Surges $33b in 1 Month

The combined aggregate value of affiliates belonging to Samsung Group, South Korea's largest family-run conglomerate, surged 38 trillion won ($33.3 billion) in the past month, helped by so-called earning surprises in the third quarter, market data showed Sunday.
According to market researcher FN Guide, six out of 11 listed Samsung affiliates exceeded earnings expectations. Of these, four posted "earning surprises," in which their profits exceeded forecasts by more than 10%, Yonhap reported.
Operating profits generated by Samsung Electronics Co., the world's largest mobile phonemaker, exceeded expectations by 12.45% in the third quarter, while numbers for Samsung Heavy Industries, Samsung SDI Co. and Samsung Fine Chemicals Co. all topped forecasts by wide margins.
The total value of Samsung Electronics rose 35 trillion won to just under 202.1 trillion won at the end of October, up from around 167 trillion won a month earlier.
This increase was helped in part by management's decision to buy back a large number of the company's own shares, which caused its stock prices to rise for the past nine trading sessions.
Helped by a surge in stock prices of the conglomerate's flagship company, the aggregate equity value of share prices for 16 listed companies belonging to the business empire stood at 324.15 trillion won as of late last month, up from 285.69 trillion a month earlier.
Despite the overall gains, Samsung Engineering Co. posted 1.5 trillion won in operating losses that shocked the market, while numbers for Hotel Shilla, Samsung SDS, Samsung Card and Cheil Worldwide failed to meet earlier expectations.
Of the country's top four conglomerates, market data showed SK Group did relatively well in the third quarter, while Hyundai Motor Group and LG posted mediocre earnings in the third quarter.
In regards to SK Group, which is involved in telecommunications, energy and semiconductors, four of the seven listed affiliates exceeded market expectations.
Of Hyundai Motor Group's eight listed companies, Kia Motors Corp. and Hyundai Rotem Co. posted market surprises, but flagship Hyundai Motor Co, as well as Hyundai Wia Corp. and Hyundai Steel failed to meet expectations.
In particular, the operating profit of Hyundai Motors stood at just 1.5 trillion won, the lowest reading in five years.
Hyundai is the world's fifth largest automotive conglomerate.
Market data then showed of LG's nine affiliates traded on the stock exchange, LG Life Sciences Ltd. posted an earning surprise.
On the other hand, LG International Corp., LG Display and LG Uplus Corp. fared badly during the three-month period.

Short URL : http://goo.gl/9iiG8r
  1. http://goo.gl/6zlkHv
  • http://goo.gl/SSfAAp
  • http://goo.gl/uMWuHK
  • http://goo.gl/5ITMyg
  • http://goo.gl/Q839RB

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
UK Economy Will Shrink Without Brexit Deal
Britain’s economy will shrink if the country leaves the...