Seoul: Cheil Worldwide Inc. on Friday reported its first-quarter net income of 28 billion won (US$19.5 million), marking a 35.5 percent decrease from the previous year. Despite the decline in net profit, the company experienced a rise in operating profit and sales figures during the same period.
According to Yonhap News Agency, Cheil Worldwide announced in a regulatory filing that its operating profit for the quarter stood at 58.5 billion won, a slight increase from 54.5 billion won recorded in the previous year. Sales also saw an uptick, rising by 2.1 percent to reach 1.03 trillion won.
The reported operating profit aligns with the average estimate derived from a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, the survey did not provide an estimate for the company's net profit.