Shinsegae International Q1 net income down 66.7 pct to 8.9 bln won

Shinsegae International-Q1 earnings

Shinsegae International Q1 net income down 66.7 pct to 8.9 bln won

SEOUL, May 10 (Yonhap) -- Shinsegae International Inc. on Wednesday reported its first-quarter net income of 8.9 billion won (US$6.7 million), down 66.7 percent from a year earlier.

Operating income for the January-March period was 10.3 billion won, down 69 percent from a year ago, the company said in a regulatory filing. Revenue fell 11.4 percent to 312.2 billion won.

The operating profit was 43.7 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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