Shinsegae Q4 net income up 88.3 pct to 177.2 bln won

Shinsegae-Q4 earnings

Shinsegae Q4 net income up 88.3 pct to 177.2 bln won

SEOUL, Feb. 8 (Yonhap) -- Shinsegae Inc. on Wednesday reported its fourth-quarter net profit of 177.2 billion won (US$140.8 million), up 88.3 percent from a year earlier.

The company said in a regulatory filing that it posted 141.3 billion won in operating profit for the quarter, compared with 195.2 billion won a year ago. Revenue rose 14.5 percent to 2.21 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 89.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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