Shinsegae Q3 net profit down 50 pct to 94.5 bln won

Shinsegae-Q3 earnings

Shinsegae Q3 net profit down 50 pct to 94.5 bln won

SEOUL, Nov. 7 (Yonhap) -- Shinsegae Inc. on Monday reported its third-quarter net income of 94.5 billion won (US$67.3 million), down 50 percent from a year earlier.

Operating profit for the July-September period was 153 billion won, up 49.4 percent from a year ago, the company said in a regulatory filing. Sales rose 17.3 percent to 1.95 trillion won.

The operating profit was 14.1 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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