Seoul: BGF Retail Co., the operator of CU convenience stores, reported a fourth-quarter net income of 49.8 billion won (US$34.2 million), marking a 14.7 percent increase from the same period last year. The report was released on Tuesday in a regulatory filing.

According to Yonhap News Agency, BGF Retail's operating profit for the October-December period rose by 24.4 percent year-on-year to 64.2 billion won. The company's revenue also saw a growth of 3.4 percent, reaching 2.29 trillion won during the same timeframe.

Additionally, the operating profit exceeded the average estimate by 10.1 percent, based on a survey conducted by Yonhap Infomax, the financial data firm of Yonhap News Agency. However, the survey did not provide an estimate for the net profit.