Revenue increased by 6.6% and operating profit by 30.6%, driven by robust performance in tobacco business KT&G reaffirms commitment to maximizing corporate value with core business-driven growth and enhancing shareholder value through best-in-class shareholder return policy SEOUL, South Korea , Aug.
8, 2024 /PRNewswire/ -- KT&G Corporation ("KT&G" or the "Company") (KRX:033780), South Korea's leading tobacco manufacturer, today hosted an earnings conference call and announced its financial results for the second quarter ended June 30, 2024 . The company reported consolidated revenue of KRW 1.424 trillion and operating profit of KRW 321.
5 billion , marking year-over-year growth rate of 6.6% and 30.6%, respectively.
KT&G's second quarter growth was mainly driven by the robust performance in the Overseas Cigarette business, which is one of the company's 3 core growth businesses (Overseas Cigarette, Next Generation Product, Health Functional Food). The Overseas Cigarette business achieved growth in all key metrics, including revenue, operating profit, and sales volume. The revenue, in particular, reached an all-time high of KRW 359.
1 billion , with an impressive double-digit growth rate of 35.3% this quarter. The operating profit soared by 139.
1% year-over-year. The domestic NGP (Next Generation Product or Heated Tobacco) business also saw growth in all 3 key metrics: revenue increased by 10.8%, operating profit by 42.
8%, and sales volume by 7.7% year-over-year. The overseas busi.