Shinsegae International Q1 net income up 13.3 pct. to 26.8 bln won

SEOUL-- Shinsegae International Inc. on Wednesday reported its first-quarter net profit of 26.8 billion won (US$21 million), up 13.3 percent from a year earlier.

The company said in a regulatory filing that it posted 33.1 billion won in operating profit for the quarter, compared with 21.3 billion won a year ago. Revenue rose 3 percent to 352.2 billion won.

The operating profit was 24.9 percent higher 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