SEOUL, SOUTH KOREA - Korea Investment Holdings Co. announced a notable increase in its first-quarter net profit, which reached 342.4 billion won ($251.7 million), marking a 13.7 percent rise from the previous year. The financial results were disclosed in a regulatory filing on Tuesday.
According to Yonhap News Agency, its operating profit for the January to March period also saw an increase, rising 18 percent to 381.6 billion won. However, sales experienced a decline, dropping 22.1 percent to 6.68 trillion won. The results surpassed market expectations, with the average net profit estimate by analysts being 234 billion won, as reported by Yonhap Infomax, a financial data firm associated with Yonhap News Agency.