CJ Cheiljedang Q4 net profit up 99.1 pct to 151.9 bln won

SEOUL, CJ Cheiljedang Corp. on Tuesday reported its fourth-quarter net profit of 151.9 billion won (US$114.4 million), up 99.1 percent from a year earlier. The company said in a regulatory filing that operating income for the October-December period rose 24 percent on-year to 298.3 billion won. Sales decreased 3.7 percent to 7.28 trillion won. The earnings exceeded market expectations. The average estimate of net profit by analysts stood at 68.8 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency. Source: Yonhap News Agency