Incross reports higher second-quarter profit on advertising growth

Incross said its second-quarter operating profit rose 14.2 percent to 2.63 billion won ($1.86 million) from 2.3 billion won ($1.63 million) a year earlier, citing broader AOR work and search-advertising growth.

Revenue grew 10.2 percent to 9.97 billion won ($7.05 million) from 9.04 billion won ($6.39 million), while net income edged 1.6 percent higher to 2.43 billion won ($1.72 million) from 2.39 billion won ($1.69 million).

Son Yoon-jung, Incross's chief executive, said, "In the second quarter, we were able to achieve both top-line growth and improved profitability, thanks to the expansion of the AOR business, growth in search advertising and stable operations in the commerce division."

The advertising business handled 146 billion won ($103 million), up 32.7 percent from a year earlier, and generated 9.9 billion won ($6.99 million) in revenue, a 13.6 percent increase. Growth was driven by its expanded AOR business and record second-quarter search-advertising revenue at subsidiary Mindnock.

Commerce transaction value rose 19.7 percent to 39.4 billion won ($27.9 million) from a year earlier, while revenue increased 10.7 percent to 1.81 billion won ($1.28 million). Solid performance from Tdeal and Hyundai Shop, along with new operating-agency work for the online Korean beef marketplace, Sono I'm Ready Mall and Nate On Deal, contributed to results. In the third quarter, the company plans to run vacation- and holiday-season promotions and market strategically priced deals.