Seoul: Samsung Card Co. on Thursday reported its fourth-quarter net income of 148.6 billion won (US$101.6 million), up 11.6 percent from a year earlier. The financial results highlight an increase in profitability for the company during the October-December period.

According to Yonhap News Agency, the company stated in a regulatory filing that its operating profit for the fourth quarter rose 13.3 percent on-year to 194.6 billion won. Despite the increase in net and operating profits, Samsung Card Co. experienced a 19.5 percent decrease in sales, which amounted to 1.05 trillion won. This indicates a notable shift in the company's revenue composition and cost management strategies.