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Dongwoo Farm to Table swings to loss in Q3

Dongwoo Farm to Table Co. Ltd. said its normalized net income for the third quarter came to a loss of 31.75 South Korean won per share, compared with 3.54 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 a loss of 738.5 million won, compared with income of 85.0 million won in the year-earlier period.

The normalized profit margin declined to negative 1.1% from 0.1% in the year-earlier period.

Total revenue climbed on an annual basis to 65.82 billion won from 64.82 billion won, and total operating expenses grew from the prior-year period to 67.61 billion won from 64.94 billion won.

Reported net income came to a loss of 2.16 billion won, or a loss of 94.66 won per share, compared to a loss of 3.54 billion won, or a loss of 155.00 won per share, in the prior-year period.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.