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Shinsegae Q3 net profit down 98.4 pct. to 858 mln won

All News 13:41 November 12, 2020

SEOUL, Nov. 12 (Yonhap) -- Shinsegae Inc. on Thursday reported its third-quarter net income of 858 million won (US$769,852), down 98.4 percent from a year earlier.

The company said in a regulatory filing that operating profit for the July-September period fell 73.8 percent on-year to 25.2 billion won. Sales decreased 24.2 percent to 1.21 trillion won.

The operating profit was 87.5 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.

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