[Special Stock] Hotel Shilla Rises 8% on Q1 Earnings Surpassing Outlook

Hotel Shilla is showing strong performance due to an earnings surprise in the first quarter of this year.

As of 9:18 AM on the 2nd, Hotel Shilla was trading at 88,000 KRW, up 7.98% compared to the previous trading day.

Hotel Shilla's consolidated operating profit for the first quarter of this year was 34.5 billion KRW, a 128% increase compared to the same period last year. This significantly exceeded the market consensus estimate of 20.4 billion KRW. Sales amounted to 752.1 billion KRW, down 31.3%. Net profit turned positive at 53.2 billion KRW.

On the same day, KB Securities raised the target price for Hotel Shilla from 100,000 KRW to 110,000 KRW. Korea Investment & Securities also increased it from 110,000 KRW to 120,000 KRW.

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