KT’s Q2 net income rises 14%

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KT’s Q2 net income rises 14%

KT Corp. reported a climb in profits for a third straight quarter on gains from its mobile-phone unit, but cut its annual earnings forecast amid rising costs. Second-quarter net income rose 14 percent to 243 billion won ($239 million) over a year earlier, KT said yesterday in a regulatory filing. Operating profit fell 41 percent to 339 billion won, with sales dropping 1.4 percent to 3 trillion won. KT trimmed its 2005 operating profit target by 14 percent after being fined for price-fixing and as marketing costs rose in the latest quarter. The filing is KT’s last under Chief Executive Lee Yong-kyung, 62, who is being succeeded by Nam Joong-soo on Aug. 19.

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