GS Retail Q3 net profit down 94.7 pct to 40.2 bln won

GS Retail-Q3 earnings

GS Retail Q3 net profit down 94.7 pct to 40.2 bln won

SEOUL, Nov. 8 (Yonhap) -- GS Retail Co. on Tuesday reported its third-quarter net profit of 40.2 billion won (US$29 million), down 94.7 percent from a year earlier.

Operating income for the July-September period was 87.6 billion won, down 16 percent from a year ago, the company said in a regulatory filing. Revenue rose 9.1 percent to 2.95 trillion won.

The operating profit was 13.9 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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