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Hanil Feed swings to loss in Q3

Hanil Feed Co. Ltd. said its third-quarter normalized net income came to a loss of 13.18 South Korean won per share, compared with 3.52 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 421.0 million won, compared with income of 111.9 million won in the prior-year period.

The normalized profit margin dropped to negative 0.5% from 0.2% in the year-earlier period.

Total revenue climbed 27.4% on an annual basis to 77.78 billion won from 61.05 billion won, and total operating expenses rose 39.8% from the prior-year period to 82.95 billion won from 59.34 billion won.

Reported net income totaled a loss of 555.6 million won, or a loss of 17.40 won per share, compared to income of 127.1 million won, or 4.00 won per share, in the prior-year period.

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