Hyundai Steel said Thursday its earnings hit new highs in the April-June period, breaking the previous record set in the first three months of this year.

The company posted sales of 4.05 trillion won ($3.8 billion) for the second quarter. This is the first time Hyundai Steel has posted quarterly sales of more than 4 trillion won. In comparison to the same period last year, Hyundai Steel’s sales have jumped by 48.9 percent.

Along with the rise in sales, its operating profits rose 11.7 percent over the same period to come in at 409 billion won, while its net profits jumped 156.1 percent to 333.8 billion won.

For the first quarter of the year, Hyundai Steel’s sales came in at 3.5 trillion while operating and net profits were respectively recorded at 309.3 billion won and 258.3 billion won.

The company attributed the rise in the second quarter earnings to the stable operations of the second blast furnace at its integrated steelworks boosting sales and increasing demand for thick plates used in shipbuilding.

The steelmaker currently operates two blast furnaces each with 4 million metric ton production capacity at its steelworks in Dangjin, South Chungcheong Province.

(cheesuk@heraldcorp.com)