KT&G posts record Q3 earnings, unveils $3.7 bil. shareholder return plan
KT&G posted record quarterly revenue and operating profit in the third quarter, driven by growth across its core businesses, while unveiling a four-year shareholder return plan worth 5 trillion won ($3.7 billion). The tobacco and consumer goods company said Thursday that consolidated revenue rose 4.3 percent from a year earlier to 1.91 trillion won, while operating profit increased 13.9 percent…
KT&G, the South Korean conglomerate, reported record third quarter earnings, culminating in a $3.7 billion plan to return value to shareholders over four years. The company's consolidated revenue surged 4.3% from the previous year to 1.91 trillion won, while operating profit grew 13.9% to 530.1 billion won, both marking quarterly peaks.
The company's core cigarette business delivered record revenue of 1.31 trillion won, up 6%, and operating profit of 425.5 billion won, up 14.4%. This was accompanied by a notable increase in its operating margin, climbing 2.4 percentage points to 32.6%. The global cigarette business celebrated its tenth consecutive quarter of growth in sales volume, revenue, and operating profit.
KT&G's next-generation products business retained its leading market share in Korea while refining its product mix. Additionally, the health functional foods subsidiary, KGC, reported a 3.4% revenue increase to 372.2 billion won and a 12.2% rise in operating profit to 80.1 billion won. This earnings report was disclosed during the company's Capital Markets Day.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
