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Wonpoong Q2 profit climbs YOY

Wonpoong Corp. said its second-quarter normalized net income was 146.94 South Korean won per share, a gain from 62.01 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 1.76 billion won, a gain from 738.2 million won in the year-earlier period.

The normalized profit margin rose to 7.9% from 3.4% in the year-earlier period.

Total revenue declined year over year to 20.82 billion won from 21.65 billion won, and total operating expenses declined 8.4% year over year to 18.55 billion won from 20.24 billion won.

Reported net income rose on an annual basis to 2.15 billion won, or 179.54 won per share, from 1.02 billion won, or 85.32 won per share.

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