Hotel Shilla shifts to black in Q2

SEOUL-- Hotel Shilla Co. on Friday reported its second-quarter net profit of 12 billion won (US$10.5 million), swinging from a loss of 67.7 billion won a year earlier.

Operating income for the April-June period was 46.4 billion, compared with a loss of 63.4 billion won a year ago, the company said in a regulatory filing. Revenue rose 82.3 percent to 953.4 billion won.

The operating profit was 12.2 percent higher than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency

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