[THE INVESTOR] AK Holdings is expected to post its largest quarterly profit in the July-September period result as its key subsidiary Jeju Air rebounds from its sluggish performance, a local securities firm said on Sept. 27.

AK Holdings’ consolidated sales and operating profit are likely to beat market expectations by 13.4 percent and 8 percent to log 830.6 billion won (US$746.67 million) and 75.2 billion won, respectively, according to Kang Sun-ah, an analyst at KB Investment & Securities.

Net profit attributable to shareholders of the parent company will hit the highest level at 39.6 billion won in the period, she said.

“Its flagship listed subsidiary Jeju Air will see the best third quarter earnings as it carried over 1.6 million passengers in July and August which is a 22 percent increase from a year ago,” the analyst said.

KB Investment & Securities retained a buy rating and target price of 80,000 won.

Shares in AK Holdings were trading at 60,600 won as of 10 a.m.

By Park Han-na (hnpark@heraldcorp.com)