Hotel Shilla-Q2 earnings

Hotel Shilla-Q2 earnings

Hotel Shilla Q2 net income up 195 pct to 72.4 bln won

SEOUL, July 28 (Yonhap) -- Hotel Shilla Co. on Friday reported its second-quarter net profit of 72.4 billion won (US$56.7 million), up 195 percent from a year earlier.

The company said in a regulatory filing that operating income for the April-June period rose 55.6 percent on-year to 67.2 billion won. Sales decreased 25.6 percent to 866.9 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 29.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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