Hotel Shilla turns to black in Q1

Hotel Shilla-Q1 earnings

Hotel Shilla turns to black in Q1

SEOUL, April 28 (Yonhap) -- Hotel Shilla Co. on Friday reported its first-quarter net profit of 53.2 billion won (US$39.8 million), shifting from a loss of 7.7 billion won a year earlier.

The company said in a regulatory filing that it posted 34.5 billion won in operating profit for the quarter, compared with 15.1 billion won a year ago. Sales fell 31.3 percent to 752.1 billion won.

The operating profit was 62.3 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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