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, a tobacco and consumer goods company, reported record third-quarter earnings in the latest financial results. Consolidated revenue climbed 4.3 percent year-over-year to 1.91 trillion won, a quarterly high. Operating profit surged 13.9 percent to 530.1 billion won, also a new quarterly record. The company's cigarette division led the growth, posting 6 percent revenue increase and 14.4 percent profit rise, reaching 1.31 trillion won and 425.5 billion won respectively.
Operating margin expanded by 2.4 percentage points to 32.6 percent. KT&G's global cigarette business recorded its 10th consecutive quarter of growth in sales volume, revenue, and operating profit. Its next-generation products segment maintained its leading market share in Korea while optimizing its product mix. KT&G's health functional foods subsidiary, KGC, reported 3.4 percent revenue growth to 372.2 billion won and 12.2 percent operating profit increase to 80.1 billion won.
During its Capital Markets Day event, KT&G unveiled a four-year shareholder return plan worth 5 trillion won, or approximately $3.7 billion.
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.
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