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Halla Holdings Q2 profit climbs YOY

Halla Holdings Corp. said its second-quarter normalized net income was 987.88 South Korean won per share, an increase from 236.50 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 10.54 billion won, an increase from 4.20 billion won in the year-earlier period.

The normalized profit margin climbed to 4.8% from 1.9% in the year-earlier period.

Total revenue decreased on an annual basis to 221.18 billion won from 226.15 billion won, and total operating expenses declined 8.0% on an annual basis to 197.08 billion won from 214.29 billion won.

Reported net income increased year over year to 12.37 billion won, or 1,159.01 won per share, from 4.12 billion won, or 232.12 won per share.

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