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KT&G Corp. Q2 profit climbs 7.6% YOY

KT&G Corp. said its normalized net income for the second quarter amounted to 1,859.02 South Korean won per share, compared with the S&P Capital IQ consensus estimate of 2,081.88 won per share.

EPS rose 7.5% year over year from 1,729.75 won.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 234.50 billion won, a gain of 7.6% from 217.85 billion won in the prior-year period.

The normalized profit margin increased to 21.6% from 21.1% in the year-earlier period.

Total revenue grew 5.4% on an annual basis to 1.088 trillion won from 1.032 trillion won, and total operating expenses climbed year over year to 742.24 billion won from 722.93 billion won.

Reported net income grew 9.1% on an annual basis to 284.95 billion won, or 2,258.89 won per share, from 261.20 billion won, or 2,074.00 won per share.

As of Aug. 16, US$1 was equivalent to 1,094.67 South Korean won.