CJ Cheiljedang Q1 net income down 51.6 pct. to 218.8 bln won

SEOUL, May 10 (Yonhap) — CJ Cheiljedang Corp. on Monday reported its first-quarter net income of 218.8 billion won (US$196.4 million), down 51.6 percent from a year earlier.

The company said in a regulatory filing that it posted 385.1 billion won in operating profit for the quarter, compared with 275.9 billion won a year ago. Sales rose 6 percent to 6.17 trillion won.

The operating profit was 18.5 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.