[THE INVESTOR] KT&G said on July 27 that its second-quarter net profit fell 3.8 percent from a year ago.

Net profit came to 274.7 billion won (US$247 million) on a consolidated basis in the April-June period, compared with 285.6 billion won a year earlier, the company said in a regulatory filing.

Operating income, meanwhile, jumped 11.7 percent on-year to 386.5 billion won and sales also rose 6.8 percent to 1.16 trillion won over the cited period, it said.

The tobacco maker attributed the decline in net profit to reassessment of its asset values.

By Alex Lee and newswires (alexlee@heraldcorp.com)