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Maeil Holdings Q2 profit falls YOY

Maeil Holdings Co. Ltd. said its second-quarter normalized net income amounted to 190.69 South Korean won per share, a decline of 42.9% from 333.76 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 2.69 billion won, a decrease of 42.1% from 4.65 billion won in the year-earlier period.

The normalized profit margin declined to 0.7% from 1.3% in the year-earlier period.

Total revenue increased 6.2% year over year to 375.54 billion won from 353.69 billion won, and total operating expenses grew 7.2% year over year to 371.97 billion won from 347.08 billion won.

Reported net income declined 50.4% year over year to 2.64 billion won, or 187.00 won per share, from 5.32 billion won, or 382.10 won per share.

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