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Shinsegae Q1 net profit down 99.8 pct. to 1.6 bln won

All News 13:58 May 12, 2020

SEOUL, May 12 (Yonhap) -- Shinsegae Inc. on Tuesday reported its first-quarter net profit of 1.6 billion won (US$ 1.3 million), down 99.8 percent from a year earlier.

The company said in a regulatory filing that it posted 3.3 billion won in operating profit for the quarter, compared with 109.6 billion won a year ago. Revenue fell 21.1 percent to 1.19 trillion won.

The operating profit was 85.1 percent lower 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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