Green Cross-Q1 earnings

Green Cross Q1 net income up 2.9 pct to 18 bln won

SEOUL, May 2 (Yonhap) -- Green Cross Corp. on Monday reported its first-quarter net income of 18 billion won (US$14.2 million), up 2.9 percent from a year earlier.

The company said in a regulatory filing that it posted 41.8 billion won in operating profit for the quarter, compared with 5 billion won a year ago. Sales rose 47.7 percent to 416.9 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 16.1 billion won, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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