Seoul: CJ Logistics Corp. on Wednesday announced a 7.4 percent decrease in its first-quarter net income, totaling 37.9 billion won (US$25.5 million), compared to the same period last year. Despite the drop in net income, the company experienced an increase in both sales and operating income during the first quarter.

According to Yonhap News Agency, the logistics company revealed in a regulatory filing that its operating income for the January-March period increased by 7.9 percent year-on-year to reach 92.1 billion won. Additionally, sales grew by 7.4 percent, amounting to 3.21 trillion won. Despite these positive figures, the company's net earnings did not meet market expectations.

The net income fell short of analysts' average estimate of 46.1 billion won, as projected by a survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency. This shortfall highlights the challenges faced by CJ Logistics in aligning its net profitability with market forecasts, despite improvements in other financial metrics.