Seoul:HD Korea Shipbuilding & Offshore Engineering Co. (HD KSOE), a subsidiary of HD Hyundai Co., announced a net profit of 777 billion won (approximately US$580 million) for the third quarter, marking an 11.4 percent decrease from the previous year.
According to Yonhap News Agency, the company also reported an operating income of 1.44 trillion won during the July-September period, which reflects a 37.3 percent increase compared to the same period last year. Revenue for the quarter rose by 9.3 percent, totaling 8.28 trillion won.
Despite the revenue and operating income growth, the net profit fell short of market expectations. Analysts had anticipated a net profit of 915 billion won, as surveyed by Yonhap Infomax, the financial data division of Yonhap News Agency.