Kumho Petrochemical Reports Significant Decrease in Q3 Net Profit.

SEOUL: Kumho Petrochemical Co. on Thursday reported its third-quarter net income of 53.1 billion won (US$38 million), marking a decrease of 49.6 percent from the same period last year. According to Yonhap News Agency, the company's operating profit for the July-September period stood at 65.1 billion won, representing a 22.7 percent drop from the previous year. Despite the decline in profits, revenue saw an increase of 21.3 percent, reaching 1.82 trillion won. The company's earnings fell short of market expectations. Analysts had projected an average net profit of 96.8 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.