HD Hyundai Heavy Industries shifts to profits in Q4
"Ane Maersk," a container ship built by HD Hyundai Heavy Industries is seen in this photo, Jan. 28. Courtesy of HD Hyundai Heavy Industries
HD Hyundai Heavy Industries on Tuesday reported its fourth-quarter net income of 31 billion won ($23.3 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 2023 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. (Yonhap)