Shinsegae net profit edges down in 2009

SEOUL, Feb. 1 (Yonhap) -- Shinsegae Co., operator of South Korea's largest
discount store chain, said Monday that its earnings fell 1 percent last year due
to weak domestic demand and increased spending.

Net profit reached 568 billion won (US$485 million) last year, compared with a
profit of 573 billion won a year earlier, the company said in a regulatory
filing.
Sales increased 12.5 percent to 10 trillion won, and operating income gained 9.4
percent to 919 billion won, it said.
The company said it is targeting sales of 13.9 percent this year, up 9.1 percent
from last year, and operating income of 1.01 trillion won, a rise of 8.2 percent.
sam@yna.co.kr
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