KT and G Reports 28% Decline in Q3 Net Profit to 239.9 Billion Won.

Seoul: KT and G Corp. announced on Thursday that its net profit for the third quarter fell to 239.9 billion won (US$171.8 million), marking a 28 percent decrease from the same period last year. Despite an increase in operating income, the company's revenue experienced a slight decline.According to Yonhap News Agency, KT and G's operating income for the July-September period saw a modest rise of 2.2 percent, reaching 415.7 billion won. However, the company's revenue dropped by 3.1 percent to 1.63 trillion won. The reported earnings did not meet market expectations, as analysts had anticipated an average net profit of 306.1 billion won, based on a survey by Yonhap Infomax, the financial data arm of Yonhap News Agency.