GS Retail Q2 Net Profit Jumps 19 Percent to 53.6 Billion Won


SEOUL, Aug. 8 (Yonhap) — GS Retail Co. on Tuesday announced a 19 percent year-on-year increase in its second-quarter net profit to 53.6 billion won (US$40.8 million).

The firm revealed in a regulatory filing that its operating profit for the quarter amounted to 97.2 billion won, compared to 50 billion won a year ago, while its revenue grew 5.3 percent to 2.95 trillion won.

The results exceeded market expectations, with the average forecast of net profit by analysts standing at 50.8 billion won, according to a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.

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