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Shinsegae International Q1 net profit down 79.6 pct. to 4.7 bln won

All News 14:09 May 12, 2020

SEOUL, May 12 (Yonhap) -- Shinsegae International Inc. on Tuesday reported its first-quarter net income of 4.7 billion won (US$ 3.8 million), down 79.6 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period fell 59 percent on-year to 12 billion won. Sales decreased 11.6 percent to 323.4 billion won.

The operating profit was 22.0 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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