Hyundai Mipo Dockyard Reports Fourth Quarter Losses

SEOUL — Hyundai Mipo Dockyard Co. disclosed a significant net loss of 109.4 billion won ($82.5 million) for the fourth quarter, continuing its financial downturn from the previous year. The South Korean shipbuilder's latest financial results, revealed in a regulatory filing on Tuesday, also showed an operating loss of 65.2 billion won for the October-December period, worsening from a 54.7 billion won loss recorded a year earlier, despite a 7.8 percent increase in sales to 1.1 trillion won.

According to Yonhap News Agency, a financial data provider affiliated with Yonhap News Agency, the operating loss far exceeded analysts' expectations, being 9680 percent higher than the average forecast. This underperformance highlights the ongoing challenges facing Hyundai Mipo Dockyard in a competitive shipbuilding industry.

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