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Wonpoong Q3 profit climbs YOY

Wonpoong Corp. said its third-quarter normalized net income came to 179.08 South Korean won per share, a gain from 85.56 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 2.15 billion won, a gain from 1.02 billion won in the prior-year period.

The normalized profit margin climbed to 9.9% from 5.1% in the year-earlier period.

Total revenue grew year over year to 20.65 billion won from 19.83 billion won, and total operating expenses decreased 4.9% on an annual basis to 17.71 billion won from 18.63 billion won.

Reported net income rose on an annual basis to 2.60 billion won, or 216.71 won per share, from 1.23 billion won, or 104.00 won per share.

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