BGF Retail Q1 net profit up 6.5 pct to 27.7 bln won

BGF Retail-Q1 earnings

BGF Retail Q1 net profit up 6.5 pct to 27.7 bln won

SEOUL, May 2 (Yonhap) -- BGF Retail Co. on Tuesday reported its first-quarter net income of 27.7 billion won (US$20.6 million), up 6.5 percent from a year earlier.

Operating income for the January-March period was 37 billion won, down 2.1 percent from a year ago, the company said in a regulatory filing. Sales rose 9.3 percent to 1.84 trillion won.

The earnings fell behind market expectations. The average estimate of net profit by analysts stood at 30.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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