SEOUL– GS Retail Co. on Wednesday reported its second-quarter net profit of 25.4 billion won (US$22.2 million), down 24.5 percent from a year earlier.
The company said in a regulatory filing that it posted 42.8 billion won in operating profit for the quarter, compared with 59.2 billion won a year ago. Revenue rose 3.4 percent to 2.28 trillion won.
The operating profit was 36.6 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