Seoul:Hyosung Heavy Industries Co. announced a significant increase in its third-quarter net profit, reaching 226.3 billion won (US$169.6 million), marking a 49.1 percent rise compared to the previous year.
According to Yonhap News Agency, the company reported an operating profit of 243.5 billion won for the July-September period, which is a 10.8 percent increase from the same period last year. Additionally, sales climbed by 7.2 percent, totaling 1.74 trillion won.
The reported earnings surpassed market expectations, with analysts' average net profit estimate being 214.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.