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Samyang Tongsang Q4 profit climbs YOY

Samyang Tongsang Co. Ltd. said its normalized net income for the fourth quarter amounted to 1,083.61 South Korean won per share, a gain from 90.34 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 3.25 billion won, a gain from 271.0 million won in the prior-year period.

The normalized profit margin rose to 5.9% from 0.5% in the year-earlier period.

Total revenue grew year over year to 54.93 billion won from 53.23 billion won, and total operating expenses totaled 51.20 billion won, compared with 51.02 billion won in the prior-year period.

Reported net income fell year over year to 3.71 billion won, or 1,235.56 won per share, from 3.87 billion won, or 1,290.88 won per share.

For the year, the company's normalized net income totaled 1,953.94 won per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 3,244.00 won.

EPS rose from 1,909.56 won in the prior year.

Normalized net income was 5.86 billion won, a gain from 5.73 billion won in the prior year.

Full-year total revenue grew 8.0% year over year to 215.04 billion won from 199.09 billion won, and total operating expenses increased 7.1% on an annual basis to 203.00 billion won from 189.54 billion won.

The company said reported net income increased year over year to 10.53 billion won, or 3,508.84 won per share, in the full year, from 10.21 billion won, or 3,405.00 won per share.

As of March 10, US$1 was equivalent to 1,203.54 South Korean won.