Cosmax Inc. on Thursday reported its second-quarter net income of 27.4 billion won (US$20.8 million), up 414.4 percent from a year earlier.

Operating profit for the April-June period was 46 billion won, up 167.3 percent from a year ago, the company said in a regulatory filing. Revenue rose 18.3 percent to 479.3 billion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 23 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency