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Truwin Q1 profit falls YOY

Truwin Co. Ltd. said its first-quarter normalized net income came to 38.41 South Korean won per share, a decline of 91.4% from 448.96 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 285.7 million won, a decrease of 87.3% from 2.25 billion won in the year-earlier period.

The normalized profit margin declined to 3.5% from 14.7% in the year-earlier period.

Total revenue declined 46.9% year over year to 8.10 billion won from 15.25 billion won, and total operating expenses declined 32.5% year over year to 7.57 billion won from 11.21 billion won.

Reported net income declined 87.5% from the prior-year period to 450.0 million won, or 60.49 won per share, from 3.59 billion won, or 717.99 won per share.

As of April 30, US$1 was equivalent to 1,077.15 South Korean won.