Green Cross swings to loss in Q2

Green Cross Corp. on Monday reported its second-quarter net loss of 9.1 billion won (US$6.6 million), swinging from a profit of 2.7 billion won a year earlier. The company said in a regulatory filing that it posted 17.6 billion won in operating profit for the quarter, compared with 23.7 billion won a year ago. Sales fell 3.6 percent to 417.4 billion won. The operating profit was 5.4 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available. Source: Yonhap News Agency