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Lotte Chilsung Beverage Q1 profit climbs 15.1% YOY

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Lotte Chilsung Beverage Q1 profit climbs 15.1% YOY

Lotte Chilsung Beverage Co. Ltd. said its normalized net income for the first quarter was 18,221.35 South Korean won per share, a gain of 26.4% from 14,414.91 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 22.54 billion won, a gain of 15.1% from 19.58 billion won in the prior-year period.

The normalized profit margin increased to 4.2% from 3.9% in the year-earlier period.

Total revenue grew 5.3% on an annual basis to 535.71 billion won from 508.59 billion won, and total operating expenses rose 5.8% on an annual basis to 498.17 billion won from 471.02 billion won.

Reported net income rose year over year to 20.82 billion won, or 16,829.82 won per share, from 20.53 billion won, or 15,115.48 won per share.

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