Hanwha Ocean Reports Significant Third-Quarter Loss.

Seoul: Hanwha Ocean Co. reported a net loss of 74.8 billion won (US$54.1 million) for the third quarter, marking a significant downturn from a profit of 231.6 billion won during the same period last year. According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the July-September period dropped by 65.5 percent year-on-year, amounting to 25.6 billion won. Despite the decrease in operating profit, sales saw a 41 percent increase, reaching 2.7 trillion won. The reported operating profit was notably 62.0 percent below the average estimate, as compiled by a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The survey did not provide an estimate for net profit, highlighting the unexpected nature of the financial results for Hanwha Ocean in the third quarter.