Hyundai Glovis Q1 net profit down 2.8 pct to 283.6 bln won

Hyundai Glovis-Q1 earnings

Hyundai Glovis Q1 net profit down 2.8 pct to 283.6 bln won

SEOUL, April 27 (Yonhap) -- Hyundai Glovis Co. on Thursday reported its first-quarter net income of 283.6 billion won (US$211.4 million), down 2.8 percent from a year earlier.

The company said in a regulatory filing that it posted 406.6 billion won in operating profit for the quarter, compared with 426.3 billion won a year ago. Sales rose 0.1 percent to 6.3 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 291.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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