Seoul: HL Mando Co. on Thursday reported its fourth-quarter net income of 51.8 billion won (US$35.8 million), marking a 27.6 percent increase from the same period last year.
According to Yonhap News Agency, the company revealed in a regulatory filing that its operating profit for the quarter was 112.6 billion won, a significant rise from 50.6 billion won the previous year. Revenue also saw an increase, growing by 10.6 percent to reach 2.42 trillion won.
The company's earnings surpassed market expectations, as analysts had anticipated a net profit of 38 billion won, based on a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.