KT Corp posts tripled net profits in Q2’09 (Korea)

www.WirelessFederation.com/news: KT Corp has reported tripled net profit for the Q2’09 to KRW456.1 billion (USD372 million), up 184% from KRW160.5 billion in Q2’08. The growth is driven by large increase to narrower foreign-exchange related losses and reduced marketing costs. Operating profit for Q2 dipped by 1.1% year-on-year to KRW363.5 billion from KRW367.6 billion, due to a drop in revenue from fixed line operations and broadband internet services.
KT reported that with the contribution of its mobile unit in the second quarter of 2008, and the full quarter this year, its combined net profit would have been KRW504.2 billion, up from KRW146.3 billion in 2008, while operating profit would have risen 50% to KRW483.4 billion from KRW322.4 billion.
Its reported sales rose 17.7% to KRW3.564 trillion from KRW3.029 trillion in the same period of 2008. With the mobile unit included sales would have fallen 2.7% to KRW4.87 trillion from KRW5.01 trillion.