GS Holdings Q1 net income down 8.6 pct to 476 bln won

GS Holdings on Thursday reported its first-quarter net income of 476 billion won (US$347.9 million), down 8.6 percent from a year earlier.The company said in a regulatory filing that it posted 1.01 trillion won in operating profit for the quarter, compared with 1.07 trillion won a year ago. Sales fell 7.6 percent to 6.28 trillion won.The operating profit was 2.6 percent higher 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