JB Financial Group-Q1 earnings

JB Financial Group-Q1 earnings

JB Financial Group Q1 net profit down 2.4 pct to 167.3 bln won

SEOUL, April 26 (Yonhap) -- JB Financial Group Co. on Wednesday reported its first-quarter net profit of 167.3 billion won (US$125.2 million), down 2.4 percent from a year earlier.

The company said in a regulatory filing that operating income for the January-March period fell 2.8 percent on-year to 223.2 billion won. Revenue increased 42.6 percent to 1 trillion won.

The earnings beat market expectations. The average estimate of net profit by analysts stood at 160.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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