Hyundai Development shifts to black in Q3

Asia's Tech News Daily

SEOUL, Oct. 28 (Yonhap) — Hyundai Development Co. on Thursday reported its third-quarter net profit of 43.8 billion won (US$37.4 million), shifting from a loss of 74.9 billion won a year earlier.

The company said in a regulatory filing that it posted 66.4 billion won in operating profit for the quarter, compared with 132.6 billion won a year ago. Revenue rose 5.8 percent to 859.4 billion won.

The operating profit was 46.4 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.
(END)

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