HL Mando-Q1 earnings

HL Mando-Q1 earnings

HL Mando Q1 net income up 31.3 pct to 43.7 bln won

SEOUL, April 21 (Yonhap) -- HL Mando Co. on Friday reported its first-quarter net profit of 43.7 billion won (US$32.9 million), up 31.3 percent from a year earlier.

The company said in a regulatory filing that operating profit for the January-March period rose 1.8 percent on-year to 70.2 billion won. Revenue increased 18.3 percent to 1.99 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 42.4 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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