Kangwon Land Q2 Profits Increase by 138.3% to 89.5 Billion Won


On Monday, Kangwon Land Inc. reported a second-quarter net profit of 89.5 billion won (US$68.5 million), an increase of 138.3 percent from the same period one year prior.

The company’s filing showed that operating profit for the quarter was 82 billion won, a rise from 69.9 billion won one year before. Sales also grew 6.3 percent to 331.1 billion won.

The operating profit was 18.2 percent higher than the average estimate according to a survey conducted by Yonhap Infomax, the financial data division of Yonhap News Agency. No net profit estimate was available.

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