Ssangyong C&E-Q1 earnings

Ssangyong C&E remains in red in Q1

SEOUL, May 9 (Yonhap) -- Ssangyong C&E Co. on Tuesday reported its first-quarter net loss of 25.9 billion won (US$19.5 million), remaining in the red compared with a year ago.

The company said in a regulatory filing that it posted an operating loss of 1.7 billion won for the January-March period, compared with a profit of 446 million won a year ago. Sales rose 30.6 percent to 491.4 billion won.

The loss was 675.6 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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