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(LEAD) KT&G 2019 net rises 15 pct on new products

All News 11:07 February 13, 2020

(ATTN: ADDS photo; REWRITES throuhgout with details)

SEOUL, Feb. 13 (Yonhap) -- KT&G Corp., South Korea's dominant tobacco company, on Thursday posted a 15 percent on-year jump in net profit for 2019 on robust sales of new products and equity gains from affiliates.

For the whole of 2019, net profit rose to 1.03 trillion won (US$877 million) from 898.66 billion won a year earlier, the company said in a statement.

"Strong sales of new products in the domestic market and increased shareholding gains from affiliate Korea Ginseng Corp. buoyed the annual results," a company spokesperson said.

Operating profit climbed 10 percent to 1.38 trillion won last year from the previous year's 1.26 trillion won. Sales were up 11 percent to 4.97 trillion won from 4.47 trillion won, it said.

(LEAD) KT&G 2019 net rises 15 pct on new products - 1


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