Asia Pulse
S KOREAN TOBACCO CO KT&G SEES Q2 NET JUMP 13.4% ON HIGHER DEMAND
Wednesday July 23, 05:24 PM
SEOUL, July 23 Asia Pulse - KT&G Corp. (KSE:033780), South Korea's biggest tobacco company, said Wednesday that its second-quarter earnings gained 13.4 per cent from a year earlier on increased overseas sales.
Net profit reached 224 billion won (US$221 million) in the April-June period, compared with 198 billion won a year earlier, the company said in a regulatory filing.
Sales climbed 8.4 per cent to 700 billion won, and operating income gained 10 per cent to 263 billion won, it said.
Shares of KT&G were trading at 89,800 won on the Seoul bourse as of 1:23 p.m., up 2.16 per cent from Tuesday.
The company said its overseas sales increased 20.7 per cent to 150 billion won, and domestic sales rose 2.4 per cent to 516 billion won.
KT&G has been focusing on fast-growing overseas markets by running its first overseas factory in Turkey in April this year. It also plans to set up a unit in Russia this month.
(Yonhap)
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