Hotel Shilla shifts to red in Q2

SEOUL, July 31 (Yonhap) -- Hotel Shilla Co. on Friday reported its second-quarter net loss of 67.7 billion won (US$ 56.9 million), swinging from a profit of 52.1 billion won a year earlier.

The company said in a regulatory filing that it posted an operating loss of 63.4 billion won for the April-June period, compared with a profit of 79.2 billion won a year ago. Revenue fell 61.4 percent to 523 billion won.

The operating loss was 11.4 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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