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S&T Holdings swings to profit in Q1

S&T Holdings Co. Ltd. said its first-quarter normalized net income amounted to 299.66 South Korean won per share, compared with a loss of 5.75 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 4.88 billion won, compared with a loss of 93.8 million won in the prior-year period.

The normalized profit margin climbed to 1.3% from negative 0.0% in the year-earlier period.

Total revenue rose on an annual basis to 382.54 billion won from 369.36 billion won, and total operating expenses fell from the prior-year period to 346.46 billion won from 350.83 billion won.

Reported net income grew on an annual basis to 11.20 billion won, or 688.21 won per share, from 4.66 billion won, or 285.53 won per share.

As of May 13, US$1 was equivalent to 1,091.95 South Korean won.