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Hankook Furniture Q3 profit climbs 10.4% YOY

Hankook Furniture Co. Ltd. said its third-quarter normalized net income amounted to 596.34 South Korean won per share, an increase of 10.4% from 540.40 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 894.5 million won, an increase of 10.4% from 810.4 million won in the year-earlier period.

The normalized profit margin rose to 8.2% from 7.5% in the year-earlier period.

Total revenue totaled 10.85 billion won, compared with 10.83 billion won in the year-earlier period, and total operating expenses totaled 9.65 billion won, compared with 9.73 billion won in the year-earlier period.

Reported net income increased 11.6% from the prior-year period to 1.09 billion won, or 726.45 won per share, from 976.3 million won, or 651.00 won per share.

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