Kiwoom Securities Q1 net income down 47.1 pct to 141.1 bln won

SEOUL-- Kiwoom Securities Co. on Tuesday reported its first-quarter net income of 141.1 billion won (US$110.5 million), down 47.1 percent from a year earlier.

Operating income for the January-March period was 213.2 billion won, down 38.6 percent from a year ago, the company said in a regulatory filing. Sales rose 36 percent to 1.95 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 164.3 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency