Seoul:HD Hyundai Marine Engine has announced a significant rise in its third-quarter net income, reaching 46.5 billion won (US$34.7 million), marking a 105.9 percent increase compared to the same period last year.
According to Yonhap News Agency, the company revealed in a regulatory filing that its operating profit for the July-September period surged by 197.2 percent year-on-year, amounting to 60.3 billion won. Additionally, sales experienced a substantial growth of 93.7 percent, totaling 211.4 billion won.
These financial results surpassed market expectations, as analysts had projected an average net profit of 35.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.