Eight out of 10 Korean Inc likely have ended Q1 better than a year ago

Chemicals, steelmakers and shippers will likely report a turnaround in their first-quarter results and securities and chip equipment names deliver doubled profit as nearly eight of 10 listed Korean Inc. are believed to have done better than a year ago.

According to data compiled by Seoul-based financial data tracker FnGuide on Sunday, 11 of 134 listed companies with earning guidance from more than three brokerage houses are projected to have reversed to a profit in the first quarter.

Key names are LG Display, Lotte Chemical, Hyundai Steel, SK Innovation, Korean Air Lines, and Korea Investment Holding.

Companies projected to have doubled income from a year ago include securities companies, Netmarble and LG Chem.

Overall, 83 percent or 111 companies showed better report for the first quarter from a year ago when Covid-19 first broke out.

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