Hanwha Engine Q3 net profit down 61.7% to $8.6 mil.
Hanwha Engine on Friday reported its third-quarter net income of 11.6 billion won ($8.6 million), down 61.7 percent from a year earlier. The company, which is part of Korea's largest weapons producer Hanwha Group, said in a regulatory filing that its operating profit for the July-September period stood at 40.9 billion won, up 53.7 percent from a year ago. Sales also rose 39.1 percent to 413.6…
Hanwha Engine reported a third-quarter net income of 11.6 billion won ($8.6 million) on Friday, representing a 61.7 percent decrease from the previous year. According to The Korea Times, these earnings fell short of market expectations, as the average net profit estimate from analysts was 41.6 billion won.
The company, a member of the Hanwha Group, saw its sales increase by 39.1 percent to 413.6 billion won during the July-September period. Operating profit for the same period rose 53.7 percent from a year ago to reach 40.9 billion won, according to The Korea Times.
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- Hanwha Engine Q3 net profit down 61.7% to $8.6 mil. koreatimes.co.kr
