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Sajohaepyo Q1 profit climbs 23.9% YOY

Sajohaepyo Corp. said its normalized net income for the first quarter came to 726.87 South Korean won per share, a gain of 23.8% from 587.03 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 5.20 billion won, a gain of 23.9% from 4.20 billion won in the prior-year period.

The normalized profit margin climbed to 2.9% from 2.5% in the year-earlier period.

Total revenue increased 5.0% year over year to 177.44 billion won from 168.92 billion won, and total operating expenses increased 5.1% from the prior-year period to 170.61 billion won from 162.38 billion won.

Reported net income grew year over year to 6.65 billion won, or 928.84 won per share, from 6.53 billion won, or 912.00 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.