CJ Cheiljedang Corp. on Monday reported its second-quarter net profit of 127.5 billion won (US$97.6 million), down 49.6 percent from a year earlier.
The company said in a regulatory filing that operating income for the April-June period fell 31.7 percent on-year to 344.6 billion won. Revenue decreased 4 percent to 7.21 trillion won.
The earnings beat market expectations. The average estimate of net profit by analysts stood at 90.2 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency