CJ CheilJedang Q4 profit skyrockets 99 percent

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CJ CheilJedang Q4 profit skyrockets 99 percent

Published: 13 Feb. 2024, 18:53

JIN MIN-JI
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CJ CheilJedang products [CJ Cheiljedang]

CJ CheilJedang reported a fourth-quarter net profit of 151.9 billion won ($114.4 million) on Tuesday, an on-year increase of 99.1 percent.

The company said in a regulatory filing that operating income for the October-December period rose 24 percent on year to 298.3 billion won. Sales decreased 3.7 percent to 7.28 trillion won.

The earnings exceeded market expectations. The average analyst estimate of net profit stood at 68.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Yonhap