Shinsegae International Reports Operating Profit of 33.8 Billion KRW Last Year, Down 60% from Previous Year

[Asia Economy Reporter Lee Seon-ae] Shinsegae International announced on the 17th that its consolidated operating profit for last year was tentatively estimated at 33.8 billion KRW, a 60% decrease compared to the previous year. Sales amounted to 1.3279 trillion KRW, down 6.8% year-on-year. Net profit decreased by 31.3% to 50.8 billion KRW.

Operating profit for the fourth quarter of last year was 17.4 billion KRW, down 19.8% compared to the same period last year. During the same period, sales were 383.6 billion KRW, a 3.5% decrease. Net income for the period increased by 30.6% to 24.8 billion KRW.