SEOUL - LS Corp reported an 88 percent surge in its net profit for the fourth quarter, amounting to 238.2 billion won (US$178.4 million).
According to Yonhap News Agency, the company's operating profit for the quarter was 153.7 billion won, an increase from 128.4 billion won in the same period a year earlier. However, the quarter's sales saw a modest rise of 0.9 percent, reaching 5.85 trillion won.
Despite the significant growth in net profit, the company's operating profit fell short of market expectations by 26.5 percent, based on a survey conducted by Yonhap Infomax, a financial data firm affiliated with Yonhap News Agency. The anticipated figures for net profit were not disclosed in the survey.