Woori Financial Group Q1 net income up 27.6 pct to 917.5 bln won

SEOUL-- Woori Financial Group Inc. on Friday reported its first-quarter net profit of 917.5 billion won (US$739.6 million), up 27.6 percent from a year earlier.

The company said in a regulatory filing that it posted 1.22 trillion won in operating profit for the quarter, compared with 933.5 billion won a year ago. Sales rose 2.9 percent to 8.96 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 788.9 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency