Kangwon Land Q4 Profit Down

(RTTNews) - Kangwon Land, Inc. (035250.KS) on Wednesday reported results for the fourth quarter, with profit dropping sharply from last year, as operating margin declined.

Net profit for the fourth quarter was 66.0 billion Won, down from 112.2 billion won last year.

Sales for the quarter were 365.4 billion won, up 6% from 344.6 billion won last year. Operating margin for the quarter was 8.1%, compared to 12.4% last year.

Cost of Goods Sold (COGS) for the quarter increased 8.9% to 285.0 billion Won and Selling, General and Administrative expenses (SG&A) also rose 26.6% to 50.8 billion Won.