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Hyundai Engineering & Construction turns to red in Q4

Economy 13:45 January 22, 2021

SEOUL, Jan. 22 (Yonhap) -- Hyundai Engineering & Construction Co. on Friday reported its fourth-quarter net loss of 122.1 billion won (US$110.7 million), swinging from a profit of 6.9 billion won a year earlier.

Operating profit for the October-December period was 89.9 billion won, down 47.2 percent from a year ago, the company said in a regulatory filing. Revenue fell 6.6 percent to 4.32 trillion won.

The operating profit was 37.9 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.
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