SEOUL, – Hyundai Glovis Co. on Thursday reported its third-quarter net profit of 246 billion won (US$180.9 million), up 4.1 percent from a year earlier.

The company said in a regulatory filing that it posted 384.2 billion won in operating profit for the quarter, compared with 478.1 billion won a year ago. Sales fell 9.8 percent to 6.33 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 264.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency