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Kangwon Land shifts to loss in Q1

All News 16:01 May 12, 2020

SEOUL, May 12 (Yonhap) -- Kangwon Land Inc. on Tuesday reported its first-quarter net loss of 156.1 billion won (US$ 127.5 million), shifting from a profit of 102.4 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 186.8 billion won for the January-March period, compared with a profit of 125.1 billion won a year ago. Sales fell 37.5 percent to 236 billion won.

The operating profit was 475.6 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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