SEOUL, Hotel Shilla Co. on Tuesday reported its first-quarter net loss of 1.6 billion won (US$1.2 million), turning from a profit of 53.2 billion won a year earlier. The company said in a regulatory filing that it posted 12.1 billion won in operating profit for the quarter, compared with 34.5 billion won a year ago. Sales rose 30.4 percent to 980.8 billion won. The operating profit was 56.8 percent lower 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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