KTandG shifts to profits in Q4

SEOUL, KTandG Corp. on Wednesday reported its fourth-quarter net profit of 117.1 billion won (US$88.2 million), swinging from a loss of 60 billion won a year earlier.Operating income for the October-December period was 198.6 billion won, down 1.4 percent from a year ago, the company said in a regulatory filing. Revenue rose 3.2 percent to 1.45 trillion won.The operating profit was 6.3 percent higher than the average estimate, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. The estimate of net profit was not available.Source: Yonhap News Agency