CJ Cheiljedang Q2 Net Profit Drops 49.6 Percent to 127.5 Billion Won

Yonhap News

SEOUL, Aug. 7 (Yonhap) — CJ Cheiljedang Corp. reported its second-quarter net profit at 127.5 billion won (US$97.6 million), a 49.6 percent decrease from the previous year.

The company stated in a regulatory filing that operating income in the April-June period dropped 31.7 percent year-on-year to 344.6 billion won. Revenue also decreased 4 percent to 7.21 trillion won.

The earnings exceeded market expectations. According to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency, the average prediction of net profit was 90.2 billion won.

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