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Halla Holdings Q1 profit climbs YOY

Halla Holdings Corp. said its first-quarter normalized net income came to 1,409.38 South Korean won per share, an increase from 297.02 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 15.04 billion won, an increase from 5.29 billion won in the year-earlier period.

The normalized profit margin climbed to 7.0% from 2.4% in the year-earlier period.

Total revenue decreased on an annual basis to 213.42 billion won from 222.24 billion won, and total operating expenses decreased 9.1% from the prior-year period to 192.75 billion won from 212.12 billion won.

Reported net income grew from the prior-year period to 20.61 billion won, or 1,932.00 won per share, from 7.19 billion won, or 403.92 won per share.

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