Hotel Shilla swings to red in Q1

SEOUL, April 24 (Yonhap) -- Hotel Shilla Co. on Friday reported its first-quarter net loss of 73.6 billion won (US$ 59.5 million), turning from a profit of 51.9 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 66.8 billion won for the January-March period, compared with a profit of 81.7 billion won a year ago. Revenue fell 29.7 percent to 943.7 billion won.

The operating profit was 322.3 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

※ This article was generated by Yonhap's proprietary algorithm using data from Yonhap Infomax and Korea Exchange(KRX).
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