Kangwon Land swings to red in Q3

SEOUL, Nov. 10 (Yonhap) -- Kangwon Land Inc. on Tuesday reported its third-quarter net loss of 40.9 billion won (US$36.6 million), turning from a profit of 128.6 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 64.9 billion won for the July-September period, compared with a profit of 139.2 billion won a year ago. Revenue fell 81.1 percent to 76.6 billion won.

The operating loss was 17.4 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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