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Banking Essentials Newsletter: 17th April Edition

SJM Holdings Q2 profit falls YOY

SJM Holdings Co. Ltd. said its second-quarter normalized net income amounted to 195.19 South Korean won per share, a decrease of 12.9% from 223.99 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 2.65 billion won, a decrease of 13.2% from 3.05 billion won in the prior-year period.

The normalized profit margin declined to 5.9% from 6.9% in the year-earlier period.

Total revenue totaled 44.65 billion won, compared with 44.42 billion won in the prior-year period, and total operating expenses increased from the prior-year period to 37.20 billion won from 35.91 billion won.

Reported net income increased 42.9% on an annual basis to 3.43 billion won, or 253.46 won per share, from 2.40 billion won, or 176.79 won per share.

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