HL Mando Co. on Friday reported its first-quarter net income of 145.7 billion won (US$106 million), up 234.5 percent from a year earlier.
The company said in a regulatory filing that it posted 75.6 billion won in operating profit for the quarter, compared with 70.2 billion won a year ago. Sales rose 5.5 percent to 2.1 trillion won.
The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 40 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.
Source: Yonhap News Agency