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PN Poong Nyun Q3 profit climbs YOY

PN Poong Nyun Co. Ltd. said its normalized net income for the third quarter was 52.58 South Korean won per share, a gain from 25.42 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 494.2 million won, a gain from 240.3 million won in the prior-year period.

The normalized profit margin climbed to 2.6% from 1.2% in the year-earlier period.

Total revenue decreased year over year to 19.21 billion won from 19.96 billion won, and total operating expenses fell 5.4% on an annual basis to 18.57 billion won from 19.62 billion won.

Reported net income increased from the prior-year period to 697.7 million won, or 74.24 won per share, from 321.4 million won, or 34.00 won per share.

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