Seoul: Hotel Shilla Co. reported a net loss of 883 million won (US$640,644) for the second quarter, a significant shift from a net profit of 27.4 billion won during the same period last year.
According to Yonhap News Agency, the company's operating income for the April-June period was recorded at 8.7 billion won, marking a 68.7 percent decline from the previous year. Despite this downturn, sales saw a slight increase of 2.3 percent, reaching 1.02 trillion won.
The operating profit was notably 46.5 percent lower than the average estimate, as per a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. However, the estimate for net profit was not disclosed.