Seoul Food Industrial Co. Ltd. said its normalized net income for the third quarter was 71 South Korean chon per share, compared with a loss of 23 chon per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 236.4 million won, compared with a loss of 76.3 million won in the year-earlier period.

The normalized profit margin climbed to 1.9% from negative 0.7% in the year-earlier period.

Total revenue increased 15.6% on an annual basis to 12.36 billion won from 10.69 billion won, and total operating expenses rose 11.9% year over year to 11.99 billion won from 10.72 billion won.

Reported net income totaled 312.5 million won, or 94 chon per share, compared to a loss of 143.6 million won, or a loss of 44 chon per share, in the prior-year period.

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