Hanssem Reports Significant Decline in Q1 Net Profit

Seoul: Hanssem Co. on Monday reported its first-quarter net income of 2.6 billion won (US$1.8 million), marking a 72.6 percent decrease from the same period last year. According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating profit for the quarter reached 10.1 billion won, up from 6.4 billion won in the previous year. However, the company's sales experienced a decline of 9.9 percent, falling to 399.4 billion won.