Hyundai Home Shopping said on the 5th that its preliminary third-quarter results came to 873.9 billion won in revenue and 24.8 billion won in operating profit. Compared with a year earlier, revenue fell 2.7% and operating profit rose 26.6%.
Net profit for the period was 24.5 billion won, down 7.6% from a year earlier.
On a separate basis, Hyundai Home Shopping's third-quarter revenue was 264.3 billion won, up 3.3% from a year earlier. Operating profit was 16.3 billion won, an increase of 79.9%.
A Hyundai Home Shopping official said, "With a programming strategy shift that expanded sales of food and jewelry in line with changing customer trends, operating profit on a separate basis increased sharply," and added, "On a consolidation basis, revenue edged down as subsidiaries underperformed due to the sluggish construction market and weakening consumer sentiment, but operating profit rose on the back of improved earnings at Hyundai L&C."