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Pungkang Co. fiscal Q4 profit falls YOY

Pungkang Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 came to 51.15 South Korean won per share, a decrease of 29.8% from 72.83 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 490.4 million won, a decline of 30.2% from 702.6 million won in the year-earlier period.

The normalized profit margin fell to 2.2% from 3.1% in the year-earlier period.

Total revenue declined year over year to 22.53 billion won from 22.92 billion won, and total operating expenses totaled 22.28 billion won, compared with 22.21 billion won in the prior-year period.

Reported net income came to 682.0 million won, or 71.12 won per share, compared to 688.3 million won, or 71.34 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 190.97 won per share, a decrease of 44.3% from 342.62 won per share in the prior year.

Normalized net income was 1.83 billion won, a decrease of 44.3% from 3.29 billion won in the prior year.

Full-year total revenue fell year over year to 89.38 billion won from 91.56 billion won, and total operating expenses came to 87.92 billion won, compared with 88.01 billion won in the year-earlier period.

The company said reported net income decreased 35.0% year over year to 2.95 billion won, or 307.69 won per share, in the full year, from 4.54 billion won, or 473.00 won per share.

As of Nov. 12, US$1 was equivalent to 1,159.89 South Korean won.