On Friday, Kumho Petro Chemical Co. announced that its net profit for the third quarter was 103.7 billion won (US$78.5 million), a decrease of 50.8 percent from the same period in the previous year. It was also revealed that the company’s operating profit for the quarter was 84.2 billion won, which was much lower than the 230.5 billion won in the year before. In addition, sales went down by 20.1 percent to 1.5 trillion won.
The operating profit was in accordance with the prediction made by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, no forecast was available for the net profit. (END)