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Youngone Q2 profit climbs 5.3% YOY

Youngone Corp. said its normalized net income for the second quarter was 678.42 South Korean won per share, an increase of 5.2% from 644.64 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 30.06 billion won, an increase of 5.3% from 28.55 billion won in the prior-year period.

The normalized profit margin dropped to 6.6% from 8.2% in the year-earlier period.

Total revenue rose 29.8% on an annual basis to 452.29 billion won from 348.40 billion won, and total operating expenses climbed 30.6% from the prior-year period to 382.56 billion won from 293.03 billion won.

Reported net income grew 21.3% from the prior-year period to 40.78 billion won, or 920.25 won per share, from 33.62 billion won, or 759.01 won per share.

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