SK Telecom has revised down its forecast for earnings for 2006 from 4.4 trillion won ($4.6 billion) to 4 trillion won ($4 billion), Dow Jones reported.
The Dow Jones report, quoting an SK regulatory filing, said the company also revised upward its sales-to-marketing expenses ratio for this year to 20.5%, from the 17.5% it previously projected.
The report further said on July 28, SK Telecom's board of directors decided to buy back and cancel 100 billion won ($100 million) worth of treasury shares and the company plans further buybacks this year.
The company plans to pay out 40% of its net profit as dividends this year, the Dow Jones further said.
SK Telecom slashes earnings projections
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