CJ Cheiljedang’s Fourth-Quarter Net Profit Surges

SEOUL - In a surprising turn of events, CJ Cheiljedang Corp. reported a significant increase in its fourth-quarter net profit for the year, with figures nearly doubling compared to the same period in the previous year. The company's net profit soared 99.1 percent to 151.9 billion won (US$114.4 million).

According to Yonhap News Agency, the operating income for the October-December period also saw a substantial rise, increasing by 24 percent on-year to 298.3 billion won. Despite this, sales during the quarter fell slightly by 3.7 percent to 7.28 trillion won. The earnings for the quarter exceeded market expectations, with analysts surveyed by Yonhap Infomax initially estimating a net profit of 68.8 billion won.

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