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Sempio Co. swings to profit in Q4

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Sempio Co. swings to profit in Q4

Sempio Co. said its normalized net income for the fourth quarter was 200.68 South Korean won per share, compared with a loss of 103.11 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 620.9 million won, compared with a loss of 318.9 million won in the prior-year period.

The normalized profit margin declined to negative 57.4% from negative 0.5% in the year-earlier period.

Total revenue grew year over year to 61.94 billion won from 60.82 billion won, and total operating expenses fell on an annual basis to 60.20 billion won from 62.00 billion won.

Reported net income came to 4.18 billion won, or 1,351.81 won per share, compared to a loss of 761.3 million won, or a loss of 246.14 won per share, in the year-earlier period.

For the year, the company's normalized net income totaled 2,658.05 won per share, a gain of 43.3% from 1,855.51 won per share in the prior year.

Normalized net income was 8.22 billion won, a rise of 43.3% from 5.74 billion won in the prior year.

Full-year total revenue rose year over year to 261.35 billion won from 250.24 billion won, and total operating expenses grew on an annual basis to 249.02 billion won from 241.07 billion won.

The company said reported net income grew 99.4% year over year to 13.97 billion won, or 4,515.17 won per share, in the full year, from 7.01 billion won, or 2,265.00 won per share.

As of Feb. 19, US$1 was equivalent to 1,232.55 South Korean won.