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HYUNGJI Innovation Q2 profit climbs YOY

HYUNGJI Innovation & Creative Co. Ltd. said its second-quarter normalized net income came to 74.20 South Korean won per share, an increase from 51 chon per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 2.42 billion won, an increase from 13.1 million won in the prior-year period.

The normalized profit margin rose to 8.3% from 0.1% in the year-earlier period.

Total revenue increased 34.1% on an annual basis to 28.71 billion won from 21.41 billion won, and total operating expenses climbed 34.0% from the prior-year period to 28.15 billion won from 21.01 billion won.

Reported net income increased from the prior-year period to 3.88 billion won, or 118.72 won per share, from 23.3 million won, or 91 chon per share.

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