Kangwon Land Reports Operating Profit of 217.6 Billion KRW Last Year, "Turned to Black"
Kangwon Land announced on the 9th that its consolidated operating profit for last year was 217.6 billion KRW, marking a turnaround from an operating loss of 52.7 billion KRW the previous year.
Revenue increased by 61.2% year-on-year to 1.2707 trillion KRW. Net profit also turned positive, reaching 115.6 billion KRW. Kangwon Land explained that the main reason for the improved performance was the normalization of casino operating conditions following the end of social distancing measures on April 17 last year.
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Kangwon Land's operating profit for the fourth quarter of last year was 18.4 billion KRW, turning positive compared to an operating loss of 20.1 billion KRW in the same period the previous year. Revenue and net profit for this quarter were 334.7 billion KRW and 9.2 billion KRW, respectively.
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