Seoul: HD Hyundai Heavy Industries Co., a South Korean shipbuilder, on Monday reported its fourth-quarter net profit of 489.6 billion won (US$333.9 million), up 33.6 percent from a year earlier. The company announced in a regulatory filing that it achieved 575 billion won in operating profit for the quarter, compared with 282.2 billion won a year ago. Revenue also increased by 29.6 percent to 5.19 trillion won.

According to Yonhap News Agency, the earnings failed to meet market expectations. Analysts had estimated the net profit to be around 523 billion won, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. Despite the significant growth, the actual figures fell short of these projections.