SEOUL, Aug. 3 (Yonhap) — BGF Retail Co. announced on Thursday that their second-quarter net income totaled 59.5 billion won (US$45.8 million), a 3.7 percent increase from the same period last year.
The company’s operating income for the April-June period was 78.1 billion won, a 10.3 percent rise from a year ago, according to a regulatory filing. Revenue also increased by 9.4 percent, totaling 2.09 trillion won.
The earnings were lower than what the market had anticipated. According to a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average estimate of net profit was 61.5 billion won.