Hanwha Ocean turns to red in Q3

Hanwha Ocean Co. on Tuesday reported its third-quarter net loss of 74.8 billion won (US$54.1 million), shifting from a profit of 231.6 billion won a year earlier.The company said in a regulatory filing that operating profit for the July-September period fell 65.5 percent on-year to 25.6 billion won. Sales increased 41 percent to 2.7 trillion won.The operating profit was 62.0 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.Source: Yonhap News Agency