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MK Trend Q1 profit climbs YOY

MK Trend Co. Ltd. said its first-quarter normalized net income came to 61.46 South Korean won per share, an increase from 28.12 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 777.4 million won, a gain from 343.6 million won in the prior-year period.

The normalized profit margin rose to 1.2% from 0.5% in the year-earlier period.

Total revenue grew on an annual basis to 65.14 billion won from 62.56 billion won, and total operating expenses climbed from the prior-year period to 63.76 billion won from 62.05 billion won.

Reported net income decreased 12.9% on an annual basis to 941.5 million won, or 74.43 won per share, from 1.08 billion won, or 88.49 won per share.

As of May 13, US$1 was equivalent to 1,091.95 South Korean won.