KT&G Corp. (033780.KS), a tobacco company in South Korea, on Thursday reported a strong rise in earnings for the third quarter, supported by solid global performance in its combustible cigarette (CC) business.
Net income jumped 73% to KRW 418.7 billion from KRW 241.5 billion in the same quarter last year. Earnings per share climbed 81.7% to KRW 3,898.
Operating profit increased 11.4% to KRW 465.3 billion.
EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) advanced 12.3% to KRW 540.5 billion last year.
Revenue grew 11.7% year-on-year to KRW 1.827 trillion from KRW 1.636 trillion a year ago.
KT&G raised its full-year guidance to target double-digit growth in both revenue and operating profit, citing robust global CC growth momentum.
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