PanOcean-Q1 earnings
PanOcean Q1 net profit up 31.3 pct to 94.5 bln won
SEOUL, May 4 (Yonhap) -- Panocean on Monday reported its first-quarter net profit of 94.5 billion won (US$64.3 million), up a solid 31.3 percent from a year earlier.
The shipping company said in a regulatory filing that it posted 140.9 billion won in operating profit for the quarter, compared with 113.3 billion won a year ago. Sales also rose 8.3 percent to 1.5 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 81.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
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