Hanwha Systems Q1 net profit down 72.8 pct to 50.3 bln won

Hanwha Systems Co. on Friday reported its first-quarter net income of 50.3 billion won (US$36.6 million), down 72.8 percent from a year earlier. The company said in a regulatory filing that it posted 39.3 billion won in operating profit for the quarter, compared with 12.3 billion won a year ago. Sales rose 23.9 percent to 544.4 billion won. The operating profit was 70.8 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