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CJ Freshway Q2 profit climbs 79.6% YOY

CJ Freshway Corp. said its normalized net income for the second quarter was 565.29 South Korean won per share, a gain of 85.1% from 305.34 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 6.40 billion won, an increase of 79.6% from 3.56 billion won in the year-earlier period.

The normalized profit margin increased to 1.2% from 0.8% in the year-earlier period.

Total revenue increased 22.7% year over year to 517.76 billion won from 421.90 billion won, and total operating expenses increased 22.4% from the prior-year period to 505.91 billion won from 413.27 billion won.

Reported net income grew 70.5% from the prior-year period to 7.61 billion won, or 671.76 won per share, from 4.46 billion won, or 382.28 won per share.

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