Shinsegae International Q4 net profit up 40.7 pct to 42.4 bln won

Shinsegae International-Q4 earnings

Shinsegae International Q4 net profit up 40.7 pct to 42.4 bln won

SEOUL, Feb. 8 (Yonhap) -- Shinsegae International Inc. on Wednesday reported its fourth-quarter net income of 42.4 billion won (US$33.7 million), up 40.7 percent from a year earlier.

Operating profit for the October-December period was 19.3 billion won, down 35.8 percent from a year ago, the company said in a regulatory filing. Sales rose 3 percent to 430.3 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 28.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

(END)

(C) Yonhap News Agency. All Rights Reserved