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KT&G Corp. Q1 profit climbs 52.0% YOY

KT&G Corp. said its first-quarter normalized net income came to 262.13 billion won, a gain of 52.0% from 172.43 billion won in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 23.0% from 17.9% in the year-earlier period.

Total revenue rose 18.0% on an annual basis to 1.137 trillion won from 963.67 billion won, and total operating expenses came to 708.40 billion won, compared with 703.64 billion won in the year-earlier period.

Reported net income came to 308.80 billion won, compared with 192.06 billion won, or 1,525.49 won per share, in the year-earlier period.

As of April 23, US$1 was equivalent to 1,081.75 South Korean won.