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NongShim Holdings Q3 profit climbs YOY

NongShim Holdings Co. Ltd. said its normalized net income for the third quarter came to 1,615.59 South Korean won per share, a gain from 676.55 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 7.49 billion won, a gain from 3.14 billion won in the year-earlier period.

The normalized profit margin climbed to 6.5% from 3.3% in the year-earlier period.

Total revenue grew 21.9% year over year to 115.35 billion won from 94.63 billion won, and total operating expenses increased 14.1% year over year to 101.32 billion won from 88.84 billion won.

Reported net income increased year over year to 10.85 billion won, or 2,340.47 won per share, from 4.52 billion won, or 975.00 won per share.

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