SEOUL– Hyundai Development Co. on Wednesday reported its second-quarter net income of 78.8 billion won (US$68.2 million), down 22.1 percent from a year earlier.
The company said in a regulatory filing that it posted 104.9 billion won in operating profit for the quarter, compared with 147.3 billion won a year ago. Revenue fell 15.1 percent to 812.4 billion won.
The operating profit was 11.8 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
Source: Yonhap News Agency