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L&F Co. Ltd. Q1 loss widens YOY

L&F Co. Ltd. said its first-quarter normalized net income amounted to a loss of 35.31 South Korean won per share, compared with a loss of 18.44 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 a loss of 563.4 million won, compared with a loss of 261.4 million won in the year-earlier period.

The normalized profit margin dropped to negative 1.2% from negative 0.4% in the year-earlier period.

Total revenue fell 20.3% year over year to 48.86 billion won from 61.26 billion won, and total operating expenses fell 18.6% year over year to 50.13 billion won from 61.56 billion won.

Reported net income totaled a loss of 1.27 billion won, or a loss of 79.87 won per share, compared to a loss of 544.2 million won, or a loss of 38.40 won per share, in the year-earlier period.

As of May 13, US$1 was equivalent to 1,177.12 South Korean won.