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Kodaco Q1 profit climbs YOY

Kodaco Co. Ltd. said its first-quarter normalized net income amounted to 31.28 South Korean won per share, a decrease of 32.4% from 46.26 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 1.21 billion won, an increase from 1.17 billion won in the prior-year period.

The normalized profit margin increased to 2.2% from 2.1% in the year-earlier period.

Total revenue grew 8.9% on an annual basis to 61.10 billion won from 56.11 billion won, and total operating expenses climbed 7.1% on an annual basis to 56.11 billion won from 52.38 billion won.

Reported net income grew 24.7% on an annual basis to 2.43 billion won, or 63.00 won per share, from 1.95 billion won, or 77.07 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.