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Lotte Chilsung Beverage Q2 profit climbs YOY

Lotte Chilsung Beverage Co. Ltd. said its second-quarter normalized net income was 22,530.93 South Korean won per share, a gain from 9,875.37 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 27.88 billion won, a gain from 13.39 billion won in the prior-year period.

The normalized profit margin increased to 4.5% from 2.3% in the year-earlier period.

Total revenue climbed 5.6% on an annual basis to 620.94 billion won from 587.87 billion won, and total operating expenses climbed year over year to 571.65 billion won from 559.24 billion won.

Reported net income increased 89.0% on an annual basis to 20.56 billion won, or 16,620.73 won per share, from 10.88 billion won, or 8,025.81 won per share.

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