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Good People Co. Ltd. Q2 profit falls YOY

Good People Co. Ltd. said its normalized net income for the second quarter was 14.79 South Korean won per share, a decline of 75.7% from 60.97 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 369.6 million won, a decrease of 75.3% from 1.50 billion won in the prior-year period.

The normalized profit margin fell to 1.3% from 4.0% in the year-earlier period.

Total revenue fell 17.0% year over year to 31.20 billion won from 37.60 billion won, and total operating expenses declined 13.6% on an annual basis to 30.48 billion won from 35.27 billion won.

Reported net income declined 74.3% on an annual basis to 516.4 million won, or 20.66 won per share, from 2.01 billion won, or 81.84 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.