Korea Tobacco & Ginseng Corporation (KT&G) released its financial report for the year 2024, stating that the company achieved a consolidated revenue of 15.57 trillion Korean won (approximately $10.759 billion) in the fourth quarter of 2024, representing an 8.0% year-on-year increase. Operating profit was 208.5 billion Korean won (approximately $144 million), up by 5.3% compared to the same period the previous year. For the full year of 2024, KT&G's revenue reached a record high of 59.1 trillion Korean won (approximately $40.84 billion), with a year-on-year increase of 0.8%. Operating profit increased by 1.5% to 11.85 trillion Korean won (approximately $8.19 billion), and net profit for the year was 1141.6 billion Korean won (approximately $790 million), showing a significant year-on-year increase of 23.8%.
In the fourth quarter, the tobacco business revenue was 7.86 trillion Korean won (approximately 5.43 billion US dollars), a year-on-year increase of 13.2%, with operating profit of 2.167 trillion Korean won (approximately 1.5 billion US dollars), a year-on-year increase of 11.1%. The annual revenue of the tobacco business was 39.063 trillion Korean won (approximately 26.99 billion US dollars), a year-on-year increase of 8.1%, with operating profit of 10.815 trillion Korean won (approximately 7.47 billion US dollars), a year-on-year increase of 10.7%.
Please refer to the original financial report for accuracy.
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