On Wednesday, Shinsegae International Inc. revealed that its third-quarter net income had dropped to 2.6 billion won (US$2 million), a decrease of 84.1 percent since the same period last year.
The company also stated in a regulatory filing that its operating income for the July-September timeframe had decreased by 75.1 percent year-on-year, amounting to 6 billion won. Revenue was reported to have fallen 18.5 percent to 315.8 billion won.
Yonhap Infomax, the financial data branch of Yonhap News Agency, conducted a survey which showed that the operating profit was 35.5 percent below the average estimate. Unfortunately, no net profit estimation was available.
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