Seoul:<Text>

Cheil Worldwide on Friday reported a first-quarter net profit of 28.3 billion won (US$19.1 million), marking a 0.8 percent increase from the same period last year.

According to Yonhap News Agency, the company disclosed in a regulatory filing that its operating income for the January-March period dropped significantly by 37.6 percent year-on-year to 36.5 billion won. The company's revenue also saw a decline of 2.1 percent, totaling 1.01 trillion won.

The earnings results were below market expectations. Analysts had projected an average net profit of 31 billion won, based on a survey conducted by Yonhap Infomax, the financial data wing of Yonhap News Agency.