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Youngone Q1 profit climbs 11.3% YOY

Youngone Corp. said its normalized net income for the first quarter came to 412.03 South Korean won per share, an increase of 11.3% from 370.33 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 18.26 billion won, a gain of 11.3% from 16.41 billion won in the year-earlier period.

The normalized profit margin fell to 7.3% from 7.7% in the year-earlier period.

Total revenue grew 17.7% on an annual basis to 249.74 billion won from 212.18 billion won, and total operating expenses increased 18.2% from the prior-year period to 217.74 billion won from 184.23 billion won.

Reported net income rose 13.9% on an annual basis to 23.43 billion won, or 528.69 won per share, from 20.56 billion won, or 464.06 won per share.

As of May 8, US$1 was equivalent to 1,090.30 South Korean won.