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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63432)	5/5/2002 9:15:17 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Samsung Securities Annual Profit Falls 71% (Update1) By Sangim Han quote.bloomberg.com Seoul, May 6 (Bloomberg) -- Samsung Securities Co., South Korea's largest brokerage, said annual profit fell 71 percent after it wrote off a large portion of holdings in bonds and other debt from Hynix Semiconductor Inc. and other ailing companies. Net income dropped to 57.4 billion won ($44.7 million) in the year ended March 31 from 194.3 billion won a year earlier, the company said in a statement. The company didn't clarify how much it wrote off from Hynix. Sales fell 11 percent to 1.09 trillion won because of declines in commission and interest income. The stock fell 4.5 percent to 42,700 won on Friday. The shares have fallen 8.7 percent this year compared with the benchmark Kospi index's 24 percent rise.