Kangwon Land has continued its upward trend since last year, recording operating profit and net profit in the second quarter, which increased significantly compared to the same period last year.
Although it has been a difficult period due to the lack of foreigners during the COVID-19 pandemic, the increase in the number of visitors as foreigners returned after easing social distancing last year
is considered the key to improving Gangwon Land's performance.
According to the disclosure, Kangwon Land posted an operating
profit of 82 billion won in the second quarter of this year on a consolidated basis, up 17.3% from 69.9 billion won
during the same period last year. During the same period, sales rose 6.3% year-on-year to 331.1
billion won, and net profit rose 138.3% to 89.5 billion won.
Kangwon Land's casino sales in the second quarter rose 5.1 percent to 294.3 billion won from 280.1
billion won a year earlier, while non-casino sales, including hotels, condos and skis, rose 17.2 percent to 36.8
billion won. The margin rate also improved from 22.5%
last year to 24.8% in the second quarter of this year.
visitors stood at 576,206, up 16.9% from the same period last year (492,971).
Among the visitors, 5,303 were foreigners, up 32.8% from 3,993 in the same period last year.