Overview
- KT&G, which reported results Thursday, said net profit rose 46.6% year over year to 378.2 billion won for the first quarter.
- Group revenue reached 1.7036 trillion won, up 14.3%, while operating profit increased 27.6% to 364.5 billion won.
- Overseas cigarettes led the gains as global revenue rose 24.6% and operating profit climbed 56.1% on higher volumes, price increases and lower costs across Asia-Pacific and Eurasia.
- Next-generation products such as heat-not-burn logged 241 billion won in sales, up 51.5% after last year’s device supply snags eased, and KT&G kept a 68.8% share of Korea’s cigarette market.
- The company canceled 9.5% of its issued shares on April 23 and said it will outline a stronger dividend policy in the second half while launching a center to build a global red ginseng ingredients business for B2B clients.