Seoul: SeAH Besteel Holdings Corp. on Tuesday reported its first-quarter net profit of 5.3 billion won (US$3.7 million), down 67.1 percent from a year earlier.
According to Yonhap News Agency, the company's operating profit for the January-March period was 18.1 billion won, marking a 15 percent decrease from the previous year. Sales also saw a decline, falling 5.4 percent to 901.7 billion won.
The earnings results were below market expectations, with analysts predicting an average net profit of 14.3 billion won, as per a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.