Hyundai Glovis Co., a logistics unit of Hyundai Motor Group, said Wednesday its fourth-quarter net profit rose 71.4 percent from a year earlier.
Net profit for the three months ending Dec. 31 rose to 229.5 billion won (US$197 million) from 133.9 billion won a year earlier, the company said in a regulatory filing.
Operating profit increased 19 percent to 228.4 billion won in the fourth quarter from 192 billion won a year ago. Sales rose 6.4 percent to 4.8 trillion won from 4.5 trillion won during the same period a year earlier.
For the entire year of 2019, Hyundai Glovis posted a net profit of 502 billion won, up 14.9 percent from 437 billion won in the previous year.
Full-year sales gained 8.3 percent on-year to 18.2 trillion won, and operating profit rose 23.4 percent to 876.5 billion won in 2019.