KCTC manages to stay in the black

KCTC, a Korean logistics company, announced its financial results for the third quarter of 2012 in mid-November.

The carrier said its revenue increased by 10.3% to KRW 54.36 billion in 3Q from KRW 49.28 billion the previous year.

However, other figures - operating profit, net profit and income and loss before income taxes - dove by double-digit percentages compared with last year. Fortunately, KCTC has avoided a deficit.

First, the operating profit recorded KRW 1.47 billion, decreasing by 30.4% from KRW 2.11 billion. The net profit was worse as the result dipped to KRW 501.2 million, dropping by 54.4% from KRW 1.10 billion in 3Q 2011.

KCTC saw its income and loss before income taxes in 3Q decline to KRW 779.5 million by 55.2% from KRW 1.74 billion over the previous year.

On the other hand, the company also reported its accumulated figures from January to September. The accumulated results have generally improved.

The nine-month revenue hit KRW 157.3 billion, increasing by 16.7% from KRW 134.7 billion compared with the same period in 2011. The operating profit also increased by 8.3% to KRW 6.025 billion from KRW 5.559 billion.

In addition, income and loss before income taxes and net profit reached KRW 4.15 billion and KRW 2.78 billion, respectively, climbing by 16.7% and 5.4% against last year. < 김보람 기자 brkim@ksg.co.kr >