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In the F Co. Q1 profit falls YOY

In the F Co. Ltd. said its normalized net income for the first quarter amounted to 5.91 South Korean won per share, a decrease of 76.4% from 24.99 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 348.0 million won, a decrease of 74.5% from 1.37 billion won in the year-earlier period.

The normalized profit margin declined to 0.8% from 2.7% in the year-earlier period.

Total revenue declined 12.6% on an annual basis to 44.96 billion won from 51.47 billion won, and total operating expenses fell 9.9% year over year to 44.33 billion won from 49.22 billion won.

Reported net income decreased 81.4% year over year to 402.1 million won, or 6.82 won per share, from 2.16 billion won, or 39.48 won per share.

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