Shinsegae Department Store in Ulsan / Courtesy of Shinsegae Group

Shinsegae International reported a first-quarter net profit of 26.8 billion won ($21 million) Wednesday, up 13.3 percent from a year earlier.

The company said in a regulatory filing that it posted 33.1 billion won in operating profit for the quarter, compared with 21.3 billion won a year ago. Revenue rose 3 percent to 352.2 billion won.

The operating profit was 24.9 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. An estimate for net profit was not available. (Yonhap)