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Leadcorp Q2 profit climbs 8.8% YOY

Leadcorp Inc. said its normalized net income for the second quarter was 290.56 South Korean won per share, a gain of 8.5% from 267.78 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 7.77 billion won, an increase of 8.8% from 7.14 billion won in the year-earlier period.

The normalized profit margin climbed to 9.5% from 8.1% in the year-earlier period.

Total revenue decreased 6.5% on an annual basis to 82.11 billion won from 87.77 billion won, and total operating expenses declined 21.3% from the prior-year period to 47.41 billion won from 60.26 billion won.

Reported net income increased 10.9% year over year to 9.52 billion won, or 356.00 won per share, from 8.59 billion won, or 321.99 won per share.

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