이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

KT&G’s share hit yearly high on better-than-expected Q1 report this week

Collected: 2017.04.24

Distributed: 2017.04.26

Source: Go Direct

South Korea’s major tobacco manufacturer KT&G Corp.’s stock whose price took a beating from the dent on sales after cigarette packs began to carry repugnant imagery of smoking harms and news of imminent e-cigarette launch by U.S. rival Philip Morris recovered to this year’s highest level on reports of better-than-expected first quarter performance.

The tobacco monopoly’s stock closed Monday at 105,500 won ($93.33), up 10.5 percent from a month earlier to this year’s peak.

Over the last month, foreign investors bought at net 39.4 billion won worth of the shares and institutional players 35.2 billion won worth in bargain-hunting after its undervalue.

According to estimates by 12 securities firms, KT&G’s is estimated to have earned 393.4 billion won in operating profit on revenue of 1.14 trillion won in the first quarter. Profit would have gained 0.1 percent and sales 4.4 percent from a year-ago period. They advised buy in the stock expecting the price to go up to 135,167 won. The company releases first quarter earnings on Thursday.

Exports and ginseng sales compensated for the loss from cigarette sales at home due to graphic imagery. Overseas sales are estimated to reach 30 percent of total sales this year. Demand for slim Esse brand from Russia and the Middle East take up half of overseas shipment. Sales from its ginseng unit are estimated to have grown in double digits.

By Chung Woo-sung

Read in Korean

List

Previous: SK Chemicals’ hemophilia drug approved for sale in fourth market of Australia

Next: AIIB invites Korean institutional investors to set up infra fund for India