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KT&G Corp. profit misses consensus by 15.3% in Q2

KT&G Corp. said its second-quarter normalized net income was 2,022.34 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,386.30 won per share.

EPS increased 9.2% year over year from 1,852.71 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 255.35 billion won, an increase of 9.3% from 233.70 billion won in the year-earlier period.

The normalized profit margin climbed to 21.7% from 21.5% in the year-earlier period.

Total revenue grew 6.8% on an annual basis to 1.162 trillion won from 1.088 trillion won, and total operating expenses climbed on an annual basis to 775.24 billion won from 742.24 billion won.

Reported net income declined from the prior-year period to 274.30 billion won, or 2,172.38 won per share, from 284.95 billion won, or 2,259.01 won per share.

As of Aug. 11, US$1 was equivalent to 1,143.53 South Korean won.