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Ottogi Q1 profit climbs 16.3% YOY

Ottogi Corp. said its first-quarter normalized net income came to 7,961.20 South Korean won per share, a gain of 16.4% from 6,842.42 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 26.88 billion won, a gain of 16.3% from 23.11 billion won in the year-earlier period.

The normalized profit margin rose to 5.8% from 5.1% in the year-earlier period.

Total revenue grew on an annual basis to 464.53 billion won from 453.85 billion won, and total operating expenses climbed year over year to 425.64 billion won from 419.02 billion won.

Reported net income rose 18.6% from the prior-year period to 32.86 billion won, or 9,731.61 won per share, from 27.71 billion won, or 8,204.97 won per share.

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