F&F-Q1 earnings

F&F Q1 net profit up 23.3 pct to 118.9 bln won

SEOUL, May 2 (Yonhap) -- F&F Co. on Tuesday reported its first-quarter net income of 118.9 billion won (US$88.9 million), up 23.3 percent from a year earlier.

Operating income for the January-March period was 148.8 billion won, up 10.6 percent from a year ago, the company said in a regulatory filing. Revenue rose 13.8 percent to 497.4 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 103.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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