SEOUL — Hyundai Engineering and Construction Co. has reported a remarkable turnaround in its financial performance for the fourth quarter of the year. The company disclosed a net profit of 110 billion won (US$82.4 million) for the October-December period, a significant recovery from a loss of 172 billion won in the same period a year earlier.
According to Yonhap News Agency, the operating profit for the quarter was 144.5 billion won, representing a 94.5 percent increase from the previous year. Revenue also experienced a substantial rise, increasing by 41.3 percent to reach 8.59 trillion won. These earnings have exceeded market expectations, as the average net profit estimate by analysts was 104.1 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. The company's robust performance in the fourth quarter marks a significant improvement and a positive shift in its financial trajectory.