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Biz News Korea(Eng)
KT&G sets milestone in quarterly exports
- Collected
- 2016.04.22
- Distributed
- 2016.04.26
- Source
- Go Direct
Overseas tobacco sales for the January-March period totaled $293.4 million (237.5 billion won), up 38 percent from the year before, the highest quarterly achievement since its first export in 1988.
Sales in key regions that include the Mideast, Central Asia and Russia climbed 30 percent from a year ago. In particular, KT&G is trying to increase its footprint in the Middle Eastern market, backed by a striking sales increase of its key brand “Esse” in Iran.
Sales in new markets such as America, South East Asia and Africa also surged 48 percent, showing a balanced growth outside Korea. Sales in Africa and Latin America skyrocketed 59 percent and 186 percent, respectively.
Esse accounted for over a half of the company’s exports. The super-slim cigarette is the top-selling brand at home for more than a decade, and controls over one-third of the world’s super-slim cigarette markets.
A company official said that KT&G grew up to the world’s fifth largest tobacco producer that sells products across 50 countries, adding that the company will keep exploring opportunities in emerging markets with high growth potential.
Meanwhile, KT&G’s net profit for the first quarter dwindled 7.8 percent on-year to 284.7 billion won, with its operating profit down 8.3 percent to 393 billion won, on sales of 1.09 trillion won, down 4 percent from a year ago.
By Seo Jin-woo
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]