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Maeil Holdings Q1 profit falls YOY

Maeil Holdings Co. Ltd. said its first-quarter normalized net income was 140.40 South Korean won per share, a decline of 62.5% from 374.49 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 1.97 billion won, a decrease of 62.0% from 5.20 billion won in the prior-year period.

The normalized profit margin dropped to 0.5% from 1.5% in the year-earlier period.

Total revenue increased 6.2% on an annual basis to 370.63 billion won from 349.06 billion won, and total operating expenses increased 7.7% on an annual basis to 366.64 billion won from 340.49 billion won.

Reported net income decreased 48.0% from the prior-year period to 3.19 billion won, or 227.00 won per share, from 6.14 billion won, or 441.99 won per share.

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