KT&G profits jump in Q2, led by overseas cigarette sales


In the second quarter of this year, South Korea's top tobacco manufacturer KT&G experienced a significant increase in earnings, largely due to the strong performance of its international operations. The company's operating profits rose by 30.6 percent to 321.5 billion won, while its sales grew by 6.6 percent to 1.424 trillion won compared to the previous year. The surge in earnings was primarily driven by the outstanding performance of its overseas business, with a notable increase in sales and profits from its cigarette sales and other growth sectors such as heated tobacco products and health supplements. During an earnings conference call, KT&G announced its plans to implement a mid-to-long-term shareholder return policy, which includes significant cash dividends, share buybacks, and the cancellation of a substantial portion of its outstanding shares. The company also intends to introduce a new corporate value enhancement strategy in the second half of the year to further reinforce its commitment to maximizing corporate value and strengthening shareholder returns. Overall, KT&G attributes its growth in revenue and operating profit in the second quarter to the successful expansion of its overseas business and remains committed to enhancing the competitiveness of its core businesses and maximizing shareholder value through its top-tier shareholder return policy.


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