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
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