ID :
57982
Tue, 04/28/2009 - 16:21
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https://www.oananews.org//node/57982
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CJ CheilJedang's net falls 98 pct in Q1
By Nam Kwang-sik
SEOUL, April 28 (Yonhap) -- CJ CheilJedang, South Korea's biggest food and drug
maker, said Tuesday its net profit dropped 98 percent in the first quarter from a
year earlier due to a weak local currency.
Net income came to 1.3 billion won (US$1 million) in the January-March period,
compared with 54.2 billion won a year earlier, CJ CheilJedang said in a
regulatory filing.
Sales, however, rose 17 percent on-year to 965.7 billion won during the same
period, while operating profit fell 43 percent to 46.1 billion.
Shares of CJ CheilJedang closed up 1.4 percent at 145,500 won on the Seoul bourse.
CJ CheilJedang said its foreign-currency related losses amounted to 78.3 billion
in the first quarter, leading to tumbling earnings.
The South Korean won fell over 30 percent against the U.S. dollar in the quarter
from the previous year.
ksnam@yna.co.kr
(END)
SEOUL, April 28 (Yonhap) -- CJ CheilJedang, South Korea's biggest food and drug
maker, said Tuesday its net profit dropped 98 percent in the first quarter from a
year earlier due to a weak local currency.
Net income came to 1.3 billion won (US$1 million) in the January-March period,
compared with 54.2 billion won a year earlier, CJ CheilJedang said in a
regulatory filing.
Sales, however, rose 17 percent on-year to 965.7 billion won during the same
period, while operating profit fell 43 percent to 46.1 billion.
Shares of CJ CheilJedang closed up 1.4 percent at 145,500 won on the Seoul bourse.
CJ CheilJedang said its foreign-currency related losses amounted to 78.3 billion
in the first quarter, leading to tumbling earnings.
The South Korean won fell over 30 percent against the U.S. dollar in the quarter
from the previous year.
ksnam@yna.co.kr
(END)
