Grand Korea Leisure Q1 net income down 52.8 pct to 10.2 bln won

Grand Korea Leisure Co. on Thursday reported its first-quarter net profit of 10.2 billion won (US$7.5 million), down 52.8 percent from a year earlier. The company said in a regulatory filing that operating income for the January-March period fell 49.1 percent on-year to 13.9 billion won. Revenue decreased 10.3 percent to 97.9 billion won. The operating profit was 122 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