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STO Co. Q2 profit climbs YOY

STO Co. Ltd. said its normalized net income for the second quarter came to 156.43 South Korean won per share, an increase from 19.28 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 1.27 billion won, an increase from 144.5 million won in the year-earlier period.

The normalized profit margin rose to 4.6% from 0.6% in the year-earlier period.

Total revenue grew 11.4% year over year to 27.50 billion won from 24.68 billion won, and total operating expenses climbed from the prior-year period to 25.40 billion won from 24.36 billion won.

Reported net income rose year over year to 1.95 billion won, or 241.01 won per share, from 172.9 million won, or 23.07 won per share.

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