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Dong Suh Q1 profit falls YOY

Dong Suh Cos. Inc. said its normalized net income for the first quarter came to 281.86 South Korean won per share, a decrease of 12.0% from 320.13 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 27.98 billion won, a decrease of 12.0% from 31.79 billion won in the year-earlier period.

The normalized profit margin declined to 21.8% from 26.6% in the year-earlier period.

Total revenue rose 7.5% year over year to 128.33 billion won from 119.34 billion won, and total operating expenses rose 8.2% on an annual basis to 113.61 billion won from 105.00 billion won.

Reported net income declined 12.1% year over year to 36.22 billion won, or 364.84 won per share, from 41.21 billion won, or 414.98 won per share.

As of May 14, US$1 was equivalent to 1,090.69 South Korean won.