[Special Stock] Kangwon Land Rises 4% on Continued Earnings Recovery Outlook
[Asia Economy Reporter Minji Lee] Kangwon Land is showing an upward trend amid forecasts that the strong recovery will continue in the second half of the year.
As of 10:19 AM on the 11th, Kangwon Land is trading at 27,900 KRW, up 4.10% compared to the previous trading day. This is interpreted as being influenced by expectations of continued performance growth in the second half following the Q2 earnings surprise.
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Kangwon Land's operating profit in Q2 was 2.702 billion KRW, turning positive compared to the same period last year. Revenue increased by 488% to 203.6 billion KRW. KB Securities analyst Sunhwa Lee said, "In June, the social distancing level in Jeongseon-gun was eased from the previous level 1.5 to the newly established level 1, which increased casino sales," adding, "Although social distancing was recently strengthened to level 2, the simultaneous occupancy limit is 1,800 people, and since there were only 52 operating days last year, a base effect is expected."
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