HD Hyundai Heavy Industries Reports Profit in Fourth Quarter

BY admin

SEOUL, South Korea – HD Hyundai Heavy Industries Co. has marked a significant financial turnaround in the fourth quarter, reporting a net income of 31 billion won (US$23.4 million), a stark contrast to the loss of 161.8 billion won experienced in the same period a year earlier. The company’s operating income for the October-December period surged by 524.8 percent on-year to 138.7 billion won, with revenue witnessing a 27.6 percent increase to 3.41 trillion won.

According to Yonhap News Agency, the operating profit exceeded market expectations by 74.9 percent, as indicated by a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. The forecasted net profit figures were not available, underscoring the company’s remarkable performance against analysts’ predictions.

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