KT&G reports its 4th quarter earnings increased 28.9%

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KT&G reports its 4th quarter earnings increased 28.9%

KT&G, Korea’s state-run tobacco producer, said Thursday that its fourth-quarter operating profit soared 28.9 percent to 287.2 billion won ($264 million). Sales increased 6.4 year-on-year to 1.05 trillion won.

The tobacco manufacturer said that the solid performance was due to increased sales in the just before the sharp rise in tobacco tax took effect on Jan.1.

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