On Thursday, Hyundai Glovis Co. reported its third-quarter net profit of 246 billion won (US$180.9 million), a 4.1 percent increase from the previous year. The company also stated that its operating profit for the quarter was 384.2 billion won, a decrease from the 478.1 billion won from the same period last year. Additionally, sales dropped 9.8 percent to 6.33 trillion won.
The earnings were lower than anticipated. According to a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average prediction of net profit was 264.5 billion won.