Hanwha Ocean Returns to Profitability in Q3 With 231.6 Billion Won Net Income

SEOUL - Hanwha Ocean Co. announced on Wednesday a return to profitability in the third quarter, showing a substantial turnaround from losses incurred a year earlier.

According to a news release by Yonhap News Agency, Hanwha Ocean reported a third-quarter net income of 231.6 billion won (US$171.8 million), compared to a loss of 646.6 billion won in the same period last year. Operating profit for the July-September quarter was 74.1 billion won, a significant turnaround from a loss of 627.8 billion won a year earlier. The company also reported a 95.3% increase in revenue, totaling 1.91 trillion won.

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