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Golfzonyouwonholdings Q2 loss widens 20.0% YOY

Golfzonyouwonholdings Co. Ltd. said its second-quarter normalized net income was a loss of 108.68 South Korean won per share, compared with a loss of 75.54 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 a loss of 3.33 billion won, compared with a loss of 2.77 billion won in the prior-year period.

The normalized profit margin increased to negative 7.1% from negative 8.4% in the year-earlier period.

Total revenue rose 41.6% on an annual basis to 46.83 billion won from 33.06 billion won, and total operating expenses rose 35.8% year over year to 50.61 billion won from 37.28 billion won.

Reported net income came to a loss of 6.24 billion won, or a loss of 203.70 won per share, compared to a loss of 10.15 billion won, or a loss of 276.34 won per share, in the year-earlier period.

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