Samsung C&T Fashion "Imported Product Improvement... Q3 Operating Profit Up 13.8% YoY" (Comprehensive)
330 Billion KRW, 4 Billion Increase from Same Period Last Year
Quarterly Sales and Operating Profit Both Decrease
"Impact of Seasonal Off-Season and Declining Consumer Sentiment"
Samsung C&T Fashion Division announced on the 25th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 33 billion KRW, a 13.8% increase compared to 29 billion KRW in the same period last year.
During the same period, sales amounted to 456 billion KRW, a 3.2% decrease compared to 471 billion KRW in the same period last year. Compared to the second quarter, operating profit decreased by 42.1% from 57 billion KRW, and sales also fell by 13% (68 billion KRW) during the same period.
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The company explained, "Due to the seasonal off-season effect, both sales and operating profit decreased compared to the previous quarter, and sales slightly declined compared to the same period last year due to a drop in consumer sentiment," adding, "profitability increased compared to the same period last year thanks to imported products and improvements in the China subsidiary."
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