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TBH Global swings to loss in Q2

TBH Global Co. Ltd. said its second-quarter normalized net income was a loss of 363.75 South Korean won per share, compared with 96.34 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 a loss of 7.59 billion won, compared with income of 2.00 billion won in the prior-year period.

The normalized profit margin declined to negative 6.4% from 1.9% in the year-earlier period.

Total revenue rose 10.3% on an annual basis to 118.63 billion won from 107.57 billion won, and total operating expenses climbed 26.3% on an annual basis to 131.73 billion won from 104.32 billion won.

Reported net income totaled a loss of 11.47 billion won, or a loss of 549.95 won per share, compared to income of 2.29 billion won, or 110.41 won per share, in the prior-year period.

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