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GMB Korea Q2 profit climbs 6.7% YOY

GMB Korea Corp. said its normalized net income for the second quarter came to 193.78 South Korean won per share, an increase of 6.7% from 181.65 won per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 3.70 billion won, a gain of 6.7% from 3.46 billion won in the year-earlier period.

The normalized profit margin fell to 3.0% from 3.0% in the year-earlier period.

Total revenue grew 6.8% year over year to 124.90 billion won from 116.92 billion won, and total operating expenses increased 9.5% year over year to 120.51 billion won from 110.05 billion won.

Reported net income increased year over year to 4.83 billion won, or 253.36 won per share, from 4.61 billion won, or 241.62 won per share.

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