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Sajo Oyang Q3 profit climbs YOY

Sajo Oyang Corp. said its normalized net income for the third quarter amounted to 273.51 South Korean won per share, an increase of 75.7% from 155.66 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.58 billion won, an increase from 678.8 million won in the prior-year period.

The normalized profit margin rose to 3.9% from 2.3% in the year-earlier period.

Total revenue grew on an annual basis to 66.25 billion won from 29.55 billion won, and total operating expenses grew year over year to 60.00 billion won from 28.48 billion won.

Reported net income rose from the prior-year period to 3.09 billion won, or 328.33 won per share, from 1.49 billion won, or 342.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.