(MENAFN) KT&G Corp., South Korea's state-run tobacco producer has reported a 7 percent decline in its gross profit over last year's Oct-Dec period as opposed to 2014's same timeframe, hitting USD134.08 million, based on reports.
Sales dropped 17.5 percent to USD704.2 million throughout the mentioned period, while the operating income decreased 8.1 percent on-year to USD217.1 million; however many other nations had its sales grow 23.7 percent.
On the bright side, KT&G has been negotiating with Iran's state-run tobacco maker since late 2015 to increase production facilities amid eliminating the sanctions on the Islamic republic, thus help boost the sales significantly.
Korea Tomorrow & Global Corporation produces popular Korean cigarette brands such as The One, Indigo and Arirang, and it has been expanded outside Korea, especially through its brand Esse in Russia and other eastern European markets.
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