Korea Zinc Inc-Q1 earnings

Korea Zinc Inc-Q1 earnings

Korea Zinc Inc Q1 net profit down 6.5 pct to 138.4 bln won

SEOUL, May 3 (Yonhap) -- Korea Zinc Inc on Wednesday reported its first-quarter net income of 138.4 billion won (US$103.4 million), down 6.5 percent from a year earlier.

Operating profit for the January-March period was 145.8 billion won, down 48.8 percent from a year ago, the company said in a regulatory filing. Sales fell 5 percent to 2.52 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 123.7 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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