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Sambo Motors Q1 profit falls YOY

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Sambo Motors Q1 profit falls YOY

Sambo Motors Co. Ltd. said its first-quarter normalized net income amounted to 209.00 South Korean won per share, a decrease of 12.5% from 238.76 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 2.20 billion won, a decline from 2.31 billion won in the year-earlier period.

The normalized profit margin dropped to 1.2% from 1.3% in the year-earlier period.

Total revenue rose 6.8% on an annual basis to 186.13 billion won from 174.25 billion won, and total operating expenses rose 6.0% year over year to 177.99 billion won from 167.91 billion won.

Reported net income grew 15.1% on an annual basis to 3.66 billion won, or 348.00 won per share, from 3.18 billion won, or 328.91 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.