GS Retail Q1 net down 84.9 pct to 5.2 bln won

SEOUL, May 4 (Yonhap) -- GS Retail Co. on Wednesday reported its first-quarter net income of 5.2 billion won (US$4.1 million), down 84.9 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period fell 27.2 percent on-year to 27.3 billion won. Sales increased 23.7 percent to 2.59 trillion won.

The operating profit was 54.1 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.

Source: Yonhap News Agency