Net profit of CJ Korea Express soars over 40% in 3Q

CJ Korea Express, a Korean logistics company, announced its financial results for the third quarter of 2012.

The logistics corporation announced that its net profit for the third quarter was up 41.3% to KRW 24.87 billion from KEW 17.60 billion in 2011.

The operating profit also soared by 13.6% to KRW 39.86 billion from KRW 35.06 billion compared with the last 3Q.

The company said it saw its revenue for the third quarter reach KRW 697.2 billion, increasing by 11% from KRW 628 billion against the same period last year.

CJ Korea Express, however, saw gross profit on sales shrink by 5.4% in 3Q, from KRW 65.13 billion to KRW 63.56 billion over last year.

The company explained that the increased sales cost caused the slump - its sales cost in the quarter grew by 12.9% compared with the 2011 from KRW 562.8 billion to KRW 635.5 billion. < 김보람 기자 brkim@ksg.co.kr >