KT&G Q4 net income down 63.7 pct to 111.5 bln won

KT&G-Q4 earnings

KT&G Q4 net income down 63.7 pct to 111.5 bln won

SEOUL, Feb. 10 (Yonhap) -- KT&G Corp. on Thursday reported its fourth-quarter net income of 111.5 billion won (US$93.2 million), down 63.7 percent from a year earlier.

The company said in a regulatory filing that it posted 264.9 billion won in operating profit for the quarter, compared with 351 billion won a year ago. Sales fell 2.3 percent to 1.24 trillion won.

The operating profit was 7.7 percent lower than the average estimate, according to the survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.

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