SEOUL, CJ Cheiljedang Corp. on Tuesday reported its first-quarter net profit of 154.6 billion won (US$113 million), up 213.5 percent from a year earlier.
The company said in a regulatory filing that operating income for the January-March period rose 48.7 percent on-year to 375.9 billion won. Revenue increased 2 percent to 7.21 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 97.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency