Seoul: HD Korea Shipbuilding and Offshore Engineering Co. on Monday reported its third-quarter net profit of 876.7 billion won (US$614.3 million), up 397 percent from a year earlier. The company disclosed in a regulatory filing that it achieved 1.05 trillion won in operating profit for the quarter, a significant increase from 398.4 billion won recorded in the same period last year. Revenue also saw a substantial rise, climbing 21.4 percent to reach 7.58 trillion won.
According to Yonhap News Agency, the operating profit exceeded the average estimate by 11.0 percent, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the estimate of net profit was not available, leaving analysts without a point of comparison for this particular metric.