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Daewon Kang Up Q3 profit climbs YOY

Daewon Kang Up Co. Ltd. said its normalized net income for the third quarter was 59.27 South Korean won per share, a gain from 21.43 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 3.68 billion won, a gain from 1.31 billion won in the prior-year period.

The normalized profit margin climbed to 1.5% from 0.6% in the year-earlier period.

Total revenue climbed on an annual basis to 238.29 billion won from 230.05 billion won, and total operating expenses rose on an annual basis to 227.26 billion won from 223.84 billion won.

Reported net income rose from the prior-year period to 5.86 billion won, or 94.47 won per share, from 794.5 million won, or 13.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.