KT Consolidating Its Earnings Turnaround; FVE Increased to USD 19 per ADR
KT reported another strong result in the third quarter, with services revenue up 2.9%, operating earnings up 17.0%, and net income up 86.1%. KT is consolidating its earnings recovery, posting its second quarterly operating profit above KRW 400 billion in a row. Net debt/EBITDA has reduced from a peak of over 4 times at the end of 2014 to a more manageable 1.3 times, owing to the sale of noncore assets and improved profitability over the past year and a half. In response, we increase our earning...
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