GS Retail Q1 net income up 242.6 pct to 17.8 bln won

GS Retail-Q1 earnings

GS Retail Q1 net income up 242.6 pct to 17.8 bln won

SEOUL, May 9 (Yonhap) -- GS Retail Co. on Tuesday reported its first-quarter net income of 17.8 billion won (US$13.4 million), up 242.6 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period rose 109.4 percent on-year to 46.6 billion won. Revenue increased 4.9 percent to 2.7 trillion won.

The operating profit was 17.9 percent higher 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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