South Korea-based KT registered more than tenfold profit growth in Q4 2021, as mobile revenue and ARPU improved, and 5G penetration neared 45 per cent.

Net profit of KRW424.4 billion ($355.1 million) was up from KRW37.2 billion in Q4 2020.

Operating revenue increased 6.7 per cent to KRW6.2 trillion, attributed  to balanced growth in telecoms and Digico, which covers its media and mobile platform businesses.

Mobile revenue increased 3.5 per cent to KRW1.5 trillion, Digico sales 3.3 per cent to KRW537.4 billion and enterprise revenue 8 per cent to KRW500.8 billion.

Handset sales fell 4.3 per cent to KRW904.7 billion.

The operator signed-up 2.8 million 5G subscribers, ending 2021 with 6.4 million. Its overall mobile user base dipped to 14.2 million.

ARPU rose 2.3 per cent to KRW31,825, its fourth consecutive quarterly increase.

Capex was flat at KRW2.9 billion.

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