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Kyungbang Q3 profit climbs YOY

Kyungbang Co. Ltd. said its third-quarter normalized net income was 77.83 South Korean won per share, an increase from 9.46 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 2.13 billion won, an increase from 259.1 million won in the year-earlier period.

The normalized profit margin rose to 2.4% from 0.3% in the year-earlier period.

Total revenue grew 17.1% on an annual basis to 88.74 billion won from 75.79 billion won, and total operating expenses rose 12.8% year over year to 79.52 billion won from 70.50 billion won.

Reported net income increased year over year to 2.71 billion won, or 98.74 won per share, from 528.7 million won, or 19.30 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.