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Sejong Industrial Q2 profit falls YOY

Sejong Industrial Co. Ltd. said its normalized net income for the second quarter came to 306.17 South Korean won per share, a decrease of 49.2% from 602.17 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 6.09 billion won, a decrease of 49.4% from 12.03 billion won in the year-earlier period.

The normalized profit margin fell to 2.0% from 4.4% in the year-earlier period.

Total revenue climbed 12.2% on an annual basis to 309.22 billion won from 275.58 billion won, and total operating expenses increased 17.2% on an annual basis to 302.19 billion won from 257.89 billion won.

Reported net income decreased 26.1% on an annual basis to 12.49 billion won, or 628.09 won per share, from 16.89 billion won, or 845.73 won per share.

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