Hyndai Glovis sees profit soar into double-digits

Hyundai Glovis, a Korean logistics company, announced its third quarter net profit dramatically soared by 45.5% to KRW 98.2 billion from KRW 67.5 billion compared with the same period last year.

The company also faced massive growth with its operating profit increasing 31.8% to KRW 112.2 billion from KRW 85.1 billion against 2011 3Q.

In addition Glovis showed KRW 2.3390 trillion in revenue, climbing by 20.2% from KRW 1.9454 trillion in last 3Q's figure.

However, the figures are down compared with the second quarter's. The company saw its revenue fall from KRW 2.3754 trillion, or 1.6%. Also Glovis saw operating profit and net profit decrease from KRW 115.1 billion and KRW 114.2 billion (2.5% and 14%), respectively. < 김보람 기자 brkim@ksg.co.kr >