Kumho Petro Chemical’s Fourth-Quarter Net Profit Falls by 44.7 Percent

SEOUL—In its latest quarterly report, Kumho Petro Chemical Co. disclosed a 44.7 percent decrease in net income for the fourth quarter, amounting to 82.5 billion won (US$61.8 million) compared to the same period a year earlier. The regulatory filing revealed that the operating profit for the October-December period plummeted by 67.8 percent to 36.7 billion won. Revenue also declined, falling 7.9 percent to 1.51 trillion won.

According to Yonhap News Agency, Despite these declines, the company's earnings surpassed market expectations, with the average net profit estimate by analysts at 62.7 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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