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Paseco Q3 profit climbs YOY

Paseco Co. Ltd. said its third-quarter normalized net income came to 310.67 South Korean won per share, a gain from 299.02 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 4.34 billion won, a gain from 4.18 billion won in the year-earlier period.

The normalized profit margin rose to 7.9% from 7.4% in the year-earlier period.

Total revenue fell year over year to 54.81 billion won from 56.38 billion won, and total operating expenses declined from the prior-year period to 47.86 billion won from 49.16 billion won.

Reported net income decreased from the prior-year period to 5.69 billion won, or 407.05 won per share, from 5.96 billion won, or 426.14 won per share.

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