SEOUL, Cheil Worldwide Inc on Tuesday reported its fourth-quarter net income of 17.3 billion won (US$13 million), down 30 percent from a year earlier.

The company said in a regulatory filing that operating profit for the October-December period rose 5.8 percent on-year to 76 billion won. Sales decreased 4.8 percent to 1.14 trillion won.

The operating profit was 75.5 percent lower than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency