Pan Ocean Co. on Thursday reported its second-quarter net profit of 109.6 billion won (US$80.4 million), up 19.3 percent from a year earlier.

The company said in a regulatory filing that it posted 135.2 billion won in operating profit for the quarter, compared with 125 billion won a year ago. Sales rose 0.7 percent to 1.23 trillion won.

The operating profit was 10.1 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

Source: Yonhap News Agency