Hyundai Steel-Q4 earnings

Hyundai Steel swings to profits in Q4

SEOUL, Jan. 27 (Yonhap) -- Hyundai Steel Co. on Thursday reported its fourth-quarter net profit of 336.8 billion won (US$280.1 million), turning from a loss of 267 billion won a year earlier.

Operating profit for the October-December period was 772.1 billion won, up 1293.7 percent from a year ago, the company said in a regulatory filing. Sales rose 34.7 percent to 6.44 trillion won.

The operating profit was 10.7 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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