Hyundai Steel shifts to loss in Q4

Hyundai Steel-Q4 earnings

Hyundai Steel shifts to loss in Q4

SEOUL, Jan. 31 (Yonhap) -- Hyundai Steel Co. on Tuesday reported its fourth-quarter net loss of 280.2 billion won (US$227.5 million), shifting from a profit of 336.8 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 275.9 billion won for the October-December period, compared with a profit of 772.1 billion won a year ago. Sales fell 7.2 percent to 5.98 trillion won.

The loss was 669.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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