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Dongwoo Farm to Table Q4 profit climbs YOY

Dongwoo Farm to Table Co. Ltd. said its fourth-quarter normalized net income amounted to 272.80 South Korean won per share, a gain from 116.32 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 6.53 billion won, a gain from 2.63 billion won in the prior-year period.

The normalized profit margin increased to 10.9% from 4.8% in the year-earlier period.

Total revenue grew 8.7% year over year to 59.71 billion won from 54.91 billion won, and total operating expenses rose from the prior-year period to 55.73 billion won from 54.46 billion won.

Reported net income grew 63.2% on an annual basis to 4.28 billion won, or 178.72 won per share, from 2.62 billion won, or 116.22 won per share.

For the year, the company's normalized net income totaled 424.47 won per share, a gain of 52.6% from 278.20 won per share in the prior year.

Normalized net income was 9.93 billion won, a gain of 52.4% from 6.52 billion won in the prior year.

Full-year total revenue fell from the prior-year period to 235.75 billion won from 239.67 billion won, and total operating expenses decreased year over year to 226.85 billion won from 234.23 billion won.

The company said reported net income grew 55.8% on an annual basis to 12.96 billion won, or 554.00 won per share, in the full year, from 8.32 billion won, or 355.00 won per share.

As of March 1, US$1 was equivalent to 1,144.79 South Korean won.