SEOUL, Shinsegae Inc. on Wednesday reported its first-quarter net income of 129.6 billion won (US$94.9 million), up 0.8 percent from a year earlier.
Operating income for the January-March period was 163 billion won, up 6.9 percent from a year ago, the company said in a regulatory filing. Revenue rose 2.6 percent to 1.6 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 78.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.