CJ Logistics-Q1 earnings

CJ Logistics-Q1 earnings

CJ Logistics Q1 net income up 53.6 pct to 48.4 bln won

SEOUL, May 4 (Yonhap) -- CJ Logistics Corp. on Thursday reported its first-quarter net income of 48.4 billion won (US$36.6 million), up 53.6 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period rose 30.9 percent on-year to 99 billion won. Revenue decreased 1.7 percent to 2.8 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 45 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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