Seoul:Hyundai Glovis Co., a prominent logistics company in Korea, announced a significant increase in its third-quarter net income, reaching 574.2 billion won (US$429.2 million). This marks a 46.2 percent rise from the same period last year.
According to Yonhap News Agency, the company's operating profit for the July-September quarter was 566.5 billion won, reflecting an 8.1 percent increase compared to the previous year. Additionally, revenue saw a substantial growth of 23.1 percent, totaling 9.05 trillion won.
The reported earnings surpassed market expectations, as analysts had predicted an average net profit of 449.9 billion won, based on a survey conducted by Yonhap Infomax, the financial data branch of Yonhap News Agency.