Seoul: Hyosung Heavy Industries Corp. on Friday reported its third-quarter net profit of 151.8 billion won (US$106.4 million), representing an increase of 109.6 percent from the same period last year.
According to Yonhap News Agency, the company announced in a regulatory filing that its operating income for the July-September period rose 97.3 percent year-on-year to 219.8 billion won. Additionally, sales during this period increased by 41.8 percent, reaching 1.62 trillion won.
The company’s earnings surpassed market predictions. Analysts surveyed by Yonhap Infomax, the financial data firm of Yonhap News Agency, had estimated an average net profit of 112.1 billion won.