Seoul: HD Hyundai Mipo Dockyard Co. reported a net profit of 79.5 billion won (US$54.9 million) in the fourth quarter, marking a significant turnaround from a loss of 109.4 billion won recorded in the same period last year.
According to Yonhap News Agency, the company also disclosed an operating income of 46.9 billion won for the October-December period, compared to an operating loss of 65.2 billion won in the previous year. Additionally, the company's sales increased by 29 percent, reaching 1.42 trillion won.
The operating profit fell short of expectations, being 25.9 percent lower than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. However, no estimate for the net profit was provided.