Hyundai GLOVIS said on the 30th that operating profit in the third quarter rose 11.7% on-year to 524.0 billion won. Revenue for the period fell 1.5% to 7.355 trillion won, and net profit increased 2.2% to 392.1 billion won.
By business, the logistics segment posted revenue of 2.5019 trillion won and operating profit of 186.7 billion won. Shipping recorded revenue of 1.3226 trillion won and operating profit of 195.5 billion won. Distribution revenue was 3.5305 trillion won, with operating profit of 141.8 billion won.
It was seen that internal and external uncertainties, such as a decline in global logistics conditions and a temporary drop in volumes due to production disruptions at some customers, affected the revenue decrease. Still, the company said that, as a temporary adjustment, it will continue growth in the fourth quarter by responding flexibly to market changes based on solid fundamentals.
A Hyundai GLOVIS official said, "Although revenue fell slightly from last year due to some external factors, we are still showing a high level of operating margin," and added, "In the fourth quarter, we will continue to secure business sustainability based on financial soundness."