On Monday, CJ Logistics Corporation announced that its third-quarter net income was 57.7 billion won (US$44.5 million), a decrease of 4.2 percent from the same period a year ago.
The company stated in a filing with the government that its operating profit for the three-month period from July to September was 124.8 billion won, a 15.9 percent increase from the same time the year before. Revenue, however, dropped 5.7 percent to 2.93 trillion won.
The results were below the market’s expectations. According to a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency, analysts had predicted a net profit of 60.3 billion won.
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