Seoul:HS Hyosung Advanced announced a third-quarter net income of 16.4 billion won (US$12.3 million), marking a significant recovery from a loss of 3.5 billion won recorded in the same period last year.
According to Yonhap News Agency, the company, known for its high-grade tire chords and carbon materials, reported a 167.2 percent year-on-year increase in operating profit for the July-September period, reaching 51.6 billion won.
Additionally, the Hyosung Group affiliate noted a 12.3 percent rise in sales, totaling 899.8 billion won for the quarter.