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SJM Co. Q3 profit climbs YOY

SJM Co. Ltd. said its normalized net income for the third quarter amounted to 320.79 South Korean won per share, a gain from 158.35 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 5.01 billion won, a gain from 2.46 billion won in the year-earlier period.

The normalized profit margin increased to 11.4% from 7.8% in the year-earlier period.

Total revenue climbed 39.3% on an annual basis to 43.93 billion won from 31.54 billion won, and total operating expenses climbed 35.9% from the prior-year period to 38.76 billion won from 28.52 billion won.

Reported net income grew from the prior-year period to 5.73 billion won, or 367.08 won per share, from 2.32 billion won, or 149.00 won per share.

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