Seoul: SeAH Besteel Holdings Corp. has announced a substantial rise in its third-quarter net profit, reaching 33.6 billion won (US$23.4 million), marking an increase of 195.9 percent compared to the same period last year. The company disclosed these figures on Tuesday through a regulatory filing.
According to Yonhap News Agency, SeAH Besteel Holdings also reported an operating profit of 26.7 billion won for the quarter, up from 24.4 billion won in the previous year. The company's revenue experienced a growth of 4.8 percent, totaling 925.9 billion won.
The reported earnings surpassed the expectations of market analysts. A survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency, estimated the average net profit at 15.2 billion won.