KT&G Enjoys 48% Rise in Operating Profit
By Kim Tae-gyu
Staff Reporter
Every major company listed on the Seoul bourse is struggling with the sole exception of KT&G, the country's foremost tobacco company.
The Seoul-based outfit said Wednesday that it chalked up 724 billion won sales over the final quarter of last year, up 17.4 percent from a year ago, thanks to increased exports.
Operating profit also rocketed by 47.8 percent to 274 billion won over the same period while netting 245 billion won in income.
KT&G provided its guidance for this year set at 2.99 trillion won in turnover and 1.15 trillion won in operating profit.
The company, which accounts for about two thirds of the local market, will pay a dividend of 2,800 per share.
``Despite the financial crisis, KT&G showed a stellar performance. It is likely to continue to rack up good results this year,'' a Seoul analyst said.