Hotel Shilla-Q3 earnings

Hotel Shilla swings to black in Q3

SEOUL, Oct. 28 (Yonhap) -- Hotel Shilla Co. on Friday reported its third-quarter net income of 14 billion won (US$9.8 million), turning from a loss of 1.2 billion won a year earlier.

The company said in a regulatory filing that it posted 26.6 billion won in operating profit for the quarter, compared with 20.9 billion won a year ago. Sales rose 40.6 percent to 1.36 trillion won.

The operating profit was 23.2 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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