Shinsegae turns to black in Q2

SEOUL, Aug. 12 (Yonhap) -- Shinsegae Inc. on Thursday reported its second-quarter net profit of 16.6 billion won (US$14.3 million), swinging from a loss of 107.9 billion won a year earlier.

Operating profit for the April-June period was 96.2 billion, compared with a loss of 48.6 billion won a year ago, the company said in a regulatory filing. Sales rose 37.6 percent to 1.39 trillion won.

The operating profit was 24.0 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.
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