SEOUL – CJ Logistics Corp. has reported a decrease in net income for the third quarter, contrasted with the same period last year.
According to Yonhap News Agency, In a recent regulatory filing, the logistics giant disclosed a net profit of 57.7 billion won (US$44.5 million) for the July-September quarter, which is a 4.2 percent decrease from the previous year. Despite the dip in net profit, the company's operating profit rose by 15.9 percent to 124.8 billion won. However, sales saw a decrease of 5.7 percent to stand at 2.93 trillion won.
The reported earnings did not meet the market analysts' expectations, who had projected a net profit of 60.3 billion won, as per the survey conducted by Yonhap Infomax, the financial data arm of Yonhap News Agency.