Seoul: Kumho Petrochemical Co. on Thursday reported its fourth-quarter net income of 2.7 billion won (US$1.9 million), down 95.5 percent from a year earlier. The company revealed these figures in a regulatory filing, highlighting a significant reduction in its financial performance for the October-December period.
According to Yonhap News Agency, the company's operating profit during the same period fell by 84.8 percent on-year, amounting to 1.5 billion won. Additionally, sales saw a decrease of 12 percent, totaling 1.58 trillion won. These figures indicate a substantial departure from market expectations, as the average estimate of net profit by analysts was 62.5 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.