SEOUL, Kumho Petro Chemical Co. on Monday reported its fourth-quarter net income of 82.5 billion won (US$61.8 million), down 44.7 percent from a year earlier.

Operating profit for the October-December period was 36.7 billion won, down 67.8 percent from a year ago, the company said in a regulatory filing. Revenue fell 7.9 percent to 1.51 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 62.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency