KT&G Q1 net profit up 4.1 pct to 274.2 bln won

KT&G-Q1 earnings

KT&G Q1 net profit up 4.1 pct to 274.2 bln won

SEOUL, May 11 (Yonhap) -- KT&G Corp. on Thursday reported its first-quarter net income of 274.2 billion won (US$206.8 million), up 4.1 percent from a year earlier.

The company said in a regulatory filing that it posted 316.5 billion won in operating profit for the quarter, compared with 333 billion won a year ago. Sales fell 0.5 percent to 1.39 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 239.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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