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Sajohaepyo Q2 profit falls YOY

Sajohaepyo Corp. said its normalized net income for the second quarter came to 463.33 South Korean won per share, a decline of 20.0% from 579.34 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 3.32 billion won, a decrease of 20.1% from 4.15 billion won in the prior-year period.

The normalized profit margin fell to 2.2% from 2.9% in the year-earlier period.

Total revenue grew year over year to 148.19 billion won from 144.21 billion won, and total operating expenses increased year over year to 144.33 billion won from 141.07 billion won.

Reported net income decreased 38.9% year over year to 4.03 billion won, or 562.57 won per share, from 6.60 billion won, or 920.76 won per share.

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