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Shinsung Tongsang fiscal Q2 profit climbs 28.7% YOY

Shinsung Tongsang Co. Ltd. said its normalized net income for the fiscal second quarter ended Dec. 31, 2014, amounted to 45.91 South Korean won per share, a gain from 18.08 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 6.60 billion won, an increase of 28.7% from 5.13 billion won in the prior-year period.

The normalized profit margin climbed to 2.7% from 2.5% in the year-earlier period.

Total revenue climbed 16.7% year over year to 244.15 billion won from 209.19 billion won, and total operating expenses climbed 12.3% on an annual basis to 224.41 billion won from 199.76 billion won.

Reported net income grew 66.3% from the prior-year period to 7.51 billion won, or 52.22 won per share, from 4.51 billion won, or 15.92 won per share.

As of March 2, US$1 was equivalent to 1,102.78 South Korean won.