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Kyungbang Q1 profit falls YOY

Kyungbang Co. Ltd. said its first-quarter normalized net income was 74.95 South Korean won per share, a decline of 21.7% from 95.69 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 2.05 billion won, a decrease of 21.7% from 2.62 billion won in the prior-year period.

The normalized profit margin declined to 2.5% from 3.2% in the year-earlier period.

Total revenue climbed year over year to 82.79 billion won from 81.25 billion won, and total operating expenses rose on an annual basis to 74.86 billion won from 72.32 billion won.

Reported net income grew 64.9% year over year to 5.27 billion won, or 192.26 won per share, from 3.20 billion won, or 116.59 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.