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Hansae Q1 profit climbs 8.7% YOY

Hansae Co. Ltd. said its normalized net income for the first quarter was 311.85 South Korean won per share, a gain of 8.7% from 286.91 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 12.47 billion won, an increase of 8.7% from 11.48 billion won in the prior-year period.

The normalized profit margin climbed to 3.9% from 3.7% in the year-earlier period.

Total revenue climbed year over year to 321.28 billion won from 312.77 billion won, and total operating expenses grew on an annual basis to 300.88 billion won from 293.45 billion won.

Reported net income totaled 14.16 billion won, or 354.12 won per share, compared to 14.08 billion won, or 351.98 won per share, in the prior-year period.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.