Hyundai Engineering & Construction Q3 net profit down 77.9 pct to 40.1 bln won

Hyundai Engineering and Construction Co. on Tuesday reported its third-quarter net profit of 40.1 billion won (US$29.1 million), down 77.9 percent from a year earlier. The company said in a regulatory filing that it posted 114.3 billion won in operating profit for the quarter, compared with 243.9 billion won a year ago. Sales rose 5.1 percent to 8.25 trillion won. The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 107.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency