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KT&G's Q4 net falls 7 pct on weak domestic sales

All News 11:14 January 21, 2016

SEOUL, Jan. 21 (Yonhap) -- KT&G Corp., South Korea's state-run tobacco producer, said Thursday its net profit decreased 7 percent in the fourth quarter from a year ago due to lackluster sales in the domestic market.

Net profit came to 162.17 billion won (US$134.08 million) on a consolidated basis in the October-December period, compared with 174.41 billion won a year earlier, the company said in a regulatory filing.

Operating income sank 8.1 percent on-year to 263.85 billion won, and sales dipped 17.5 percent to 855.67 billion won over the cited period, it said.

The numbers reflect the performances of KT&G and its subsidiaries, including Korea Ginseng Corp.


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