Meritz Securities posted increases in operating profit and net profit in the first half of this year from a year earlier, helped by growth in its retail and asset management businesses.

Meritz Securities said on Aug. 12 it recorded first-half consolidated operating profit of 501.3 billion won and net profit of 514.0 billion won.

Operating profit rose 11.8 percent from 448.5 billion won a year earlier. Net profit also increased 15.9 percent from 443.5 billion won in the first half of last year.

Second-quarter operating profit fell 18.2 percent from a year earlier to 245.7 billion won from 300.3 billion won. Net profit, however, rose 1.4 percent to 259.7 billion won from 256.1 billion won.

Meritz Securities explained that first-half results were supported by earnings growth in the retail business and solid performance in asset management and its financial balance, even as financial market volatility increased.

It said strong results in asset management and retail led to double-digit growth in first-half operating profit and net profit from a year earlier.

A Meritz Securities official said, "Even amid increased market volatility, we are continuing a stable growth trend based on earnings growth in the retail business and solid results in asset management and our financial balance." The official said the company will respond to market conditions through risk management and portfolio diversification.