CJ Cheiljedang Corp. on Tuesday reported its second-quarter net profit of 147.8 billion won (US$107.8 million), up 16 percent from a year earlier.

Operating profit for the April-June period was 383.6 billion won, up 11.3 percent from a year ago, the company said in a regulatory filing. Revenue rose 0.3 percent to 7.23 trillion won.

The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 117.3 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

Source: Yonhap News Agency