Seoul: Samsung E and A Co., a South Korean plant engineering company, announced on Thursday a slight decrease in its third-quarter net profit, which stood at 157.4 billion won (US$110.4 million), marking a 0.6 percent decline from the previous year.
According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter was 176.5 billion won, down from 203.9 billion won in the same period the previous year. Additionally, sales saw a decline of 13.9 percent, totaling 1.99 trillion won.
Despite the decrease in net income and sales, the company’s earnings surpassed market expectations. Analysts had projected a net profit of 129.2 billion won, based on a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.