GS Retail Q3 net profit down 44.7 pct to 49.9 bln won - Yonhap News Agency

SEOUL, Nov. 4 (Yonhap) -- GS Retail Co. on Wednesday reported its third-quarter net income of 49.9 billion won (US$37 million), down 44.7 percent from a year earlier.

Operating profit for the July-September period reached 132.1 billion won, up 18.9 percent from a year ago, the company, which operates GS25 convenience stores, said in a regulatory filing. Revenue also rose 3.4 percent to 3.31 trillion won.

The earnings fell short of market expectations. The average estimate of net profit by analysts stood at 79.1 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.(END)