Rise in profit for KT Corp

Fixed line operator KT Corp has posted a marginal increase in third quarter earnings, with net income rising 0.4% year-on-year to KRW305.4 billion (USD293.2 million). The telco attributed the results to decreased interest costs and improved performances by its subsidiaries. Sales rose by 0.6% in the quarter to KRW2.94 trillion (USD2.8 billion), while operating profit fell by 11.5% to KRW452 billion (USD450 million). EBITDA stood at KRW1.02 trillion (USD1 billion), down 7% year-on-year.