Hanatour announced on the 11th that its consolidated operating profit for the previous year was 50.9 billion won, an increase of 49.5% compared to the previous year. This is Hanatour's largest annual operating profit on record.
During the same period, sales revenue increased by 49.8% year-on-year to 616.6 billion won. Net profit for the period rose sharply by 69.1% to 99.9 billion won year-on-year. This too is the highest ever. This is due to a reduction in corporate tax rates from accumulated deficits and the conclusion of lawsuits related to SM Duty-Free, which reflected profits and losses from discontinued operations.
For the fourth quarter of last year, operating profit was recorded at 13.5 billion won, an increase of 21.6% compared to the same period last year. Sales revenue for the same period rose by 19% to 142.2 billion won compared to the same period last year. The travel industry faced challenges due to the 12·3 emergency martial law and the Jeju Air disaster at Muan Airport, but it appears to have recorded strong performance due to the increase in overseas travelers.
A Hanatour official explained, "Last year's continued recovery in the travel industry and increased sales of mid-priced packages (Hanatour 2.0) raised the average selling price, which contributed to the increase in sales and operating profit."
He added, "Improvements in productivity through strengthening the internal computer system, reduced commissions due to the increase in online sales proportion, and cost efficiency measures by subsidiaries also contributed to the increase in operating profit."