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SKT beats 4Q expectations

24 Jan 2006

South Korea’s largest cellco SK Telecom says its fourth quarter profits beat analysts’ expectations thanks to improved sales of value added wireless services. SKT posted a KRW448 billion (USD454 million) net profit for the three months to the end of December 2005, up 29% year-on-year, but down 24% on a quarterly basis. Revenues from wireless data services rose 22% y-o-y to KRW661 billion to account for 25.2% of total turnover. Full year 2005 net profit rose 25% to KRW1.87 trillion, but analysts predict that will fall slightly to KRW1.8 trillion in 2006.

South Korea, SK Telecom (SKT)

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