CJ Cheiljedang Corp. (097950.KS), a South Korean food processor, reported Tuesday sharply lower profit in its third quarter, even as sales edged up from last year.
In the quarter, net income attributable to shareholders of parent company fell 54.2 percent to 72.93 billion Korean won from last year's 159.20 billion won.
Net income from continuing operation before income tax was 196.90 billion won, down 27.5 percent from 271.61 billion won a year ago.
Operating income dropped 16.7 percent to 346.50 billion won from last year's 416.19 billion won.
Sales for the period, however, edged up 0.3 percent to 7.44 trillion won from 7.41 trillion won in the previous year.
On the South Korean stock exchange, CJ Cheiljedang shares were trading at 228,000.00 won, down 0.87 percent.
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