BGF Retail Q1 net profit up 6.5% to $20.6 million
People drink beverages on the terrace of a CU convenience store in Ulaanbaatar in this 2018 file photo. Courtesy of BGF Retail
BGF Retail on Tuesday reported its first-quarter net income of 27.7 billion won ($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. (Yonhap)