Seoul: Hyundai Engineering and Construction (E and C) Co. has announced a substantial turnaround in its financial performance for the fourth quarter, with a net profit of 165.9 billion won (US$114.2 million). This marks a significant recovery from the previous year's substantial loss of 1.16 trillion won during the same period.

According to Yonhap News Agency, the company also reported an operating income of 118.8 billion won for the October-December period, a notable improvement from the 1.77 trillion won loss recorded a year earlier. Sales for the quarter increased by 11.2 percent, reaching 8.06 trillion won.

The reported earnings exceeded market expectations, with analysts previously estimating a net profit of 69.8 billion won, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.