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Daekyo Q2 profit climbs 11.1% YOY

Daekyo Co. Ltd. said its normalized net income for the second quarter came to 60.56 South Korean won per share, an increase of 13.6% from 53.31 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 5.52 billion won, a gain of 11.1% from 4.97 billion won in the prior-year period.

The normalized profit margin rose to 2.7% from 2.5% in the year-earlier period.

Total revenue totaled 200.84 billion won, compared with 199.14 billion won in the year-earlier period, and total operating expenses totaled 191.15 billion won, compared with 191.65 billion won in the year-earlier period.

Reported net income grew 17.9% on an annual basis to 11.12 billion won, or 122.00 won per share, from 9.43 billion won, or 101.24 won per share.

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