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Very Good Tour Co. Q1 profit climbs 80.8% YOY

Very Good Tour Co. Ltd. said its first-quarter normalized net income was 146.25 South Korean won per share, an increase of 80.7% from 80.93 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 2.04 billion won, a gain of 80.8% from 1.13 billion won in the prior-year period.

The normalized profit margin increased to 9.8% from 6.0% in the year-earlier period.

Total revenue rose 9.5% on an annual basis to 20.71 billion won from 18.91 billion won, and total operating expenses rose year over year to 17.61 billion won from 17.15 billion won.

Reported net income increased 80.8% year over year to 2.54 billion won, or 182.52 won per share, from 1.41 billion won, or 101.00 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.