Hanatour Reports 12 Billion KRW Operating Profit in Q3, Down 9% Year-on-Year
Hana Tour announced on the 5th that its consolidated operating profit for the third quarter of this year was tentatively estimated at 12 billion KRW, down 8.99% compared to the same period last year.
Sales increased by 25.81% to 159.4 billion KRW, but net profit decreased by 15.3% to 13.6 billion KRW.
The company explained that the decline in operating profit was due to deteriorated profitability caused by intensified price competition resulting from unsettled payments issues with TMON and WEMAKEPRICE, as well as a temporary demand contraction due to natural disasters in Japan.
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However, Hana Tour emphasized that its cumulative operating profit for the first to third quarters of this year reached a record high of 37.3 billion KRW.
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