Seoul: Oci Holdings Co. on Wednesday reported its fourth-quarter net profit of 26.6 billion won (US$18.4 million), swinging from a loss of 82 billion won a year earlier. Operating income for the October-December period was 27.3 billion, compared with a loss of 107.8 billion won a year ago, the company said in a regulatory filing. Revenue fell 5.1 percent to 810.6 billion won.
According to Yonhap News Agency, Oci Holdings' return to profitability in the fourth quarter marks a significant turnaround from the previous year's losses. The shift to a net profit was accompanied by an improvement in operating income, despite a slight decline in revenue. The company did not provide specific reasons for the financial turnaround in the regulatory filing.