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YG Plus Q1 loss widens YOY

YG Plus Inc. said its normalized net income for the first quarter was a loss of 13.62 South Korean won per share, compared with a loss of 2.29 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 a loss of 783.6 million won, compared with a loss of 129.6 million won in the year-earlier period.

The normalized profit margin rose to 1.6% from negative 5.6% in the year-earlier period.

Total revenue rose on an annual basis to 10.65 billion won from 2.32 billion won, and total operating expenses increased on an annual basis to 12.28 billion won from 3.72 billion won.

Reported net income totaled 459.3 million won, or 7.99 won per share, compared to a loss of 510.5 million won, or a loss of 9.04 won per share, in the prior-year period.

As of May 11, US$1 was equivalent to 1,163.58 South Korean won.