SEOUL - Cheil Worldwide Inc announced on Friday that its net profit for the third quarter reached 66.2 billion won (approximately $49.1 million), marking a 2.5% increase from the same quarter a year earlier.
According to a new release by Yonhap News Agency, Cheil Worldwide posted an operating profit of 93.4 billion won for the quarter, a slight rise compared to 93.1 billion won in the corresponding quarter of the previous year. However, sales for the quarter witnessed a 4.2% decline, totaling 1.07 trillion won.
The financial figures surpassed market expectations. Analysts had estimated an average net profit of 63.8 billion won for the quarter, as per a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency.