This is a result of its strong effort to reorganize its business structure, among others, the acquisition of Cape Investment & Securities (formerly LIG Investment & Securities). Cape is also looking for another M&A opportunities.
According to industry sources on March 13, Cape Industries posted consolidated sales of 122.1 billion won last year, up 532.6 percent from a year ago. Its operating profit amounted to 6.1 billion won last year, a turnaround after three years of losses.
Its financial performance greatly improved last year thanks to the incorporation of Cape Investment & Securities as its subsidiary. Cape Investment recorded a net profit of 11.7 billion won last year, up 41.2 percent year on year. At present, Cape runs a total of nine subsidiaries, including a social casino game firm Socialinus.