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HD Hyundai Heavy Industries shifts to profits in Q4

SEOUL, HD Hyundai Heavy Industries Co. on Tuesday reported its fourth-quarter net income of 31 billion won (US$23.4 million), turning from a loss of 161.8 billion won a year earlier.

The company said in a regulatory filing that operating income for …

SEOUL, HD Hyundai Heavy Industries Co. on Tuesday reported its fourth-quarter net income of 31 billion won (US$23.4 million), turning from a loss of 161.8 billion won a year earlier. The company said in a regulatory filing that operating income for the October-December period rose 524.8 percent on-year to 138.7 billion won. Revenue increased 27.6 percent to 3.41 trillion won. The operating profit was 74.9 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. Source: Yonhap News Agency