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Kodaco Q4 profit climbs YOY

Kodaco Co. Ltd. said its normalized net income for the fourth quarter came to 118.58 South Korean won per share, an increase of 73.7% from 68.27 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 4.34 billion won, a gain from 1.92 billion won in the prior-year period.

The normalized profit margin rose to 5.7% from 2.7% in the year-earlier period.

Total revenue climbed 6.7% on an annual basis to 75.63 billion won from 70.89 billion won, and total operating expenses climbed 8.1% from the prior-year period to 70.92 billion won from 65.61 billion won.

Reported net income rose on an annual basis to 5.55 billion won, or 151.65 won per share, from 1.65 billion won, or 58.81 won per share.

For the year, the company's normalized net income totaled 235.20 won per share, an increase of 21.4% from 193.69 won per share in the prior year.

Normalized net income was 7.85 billion won, an increase of 40.9% from 5.57 billion won in the prior year.

Full-year total revenue rose 8.0% from the prior-year period to 286.35 billion won from 265.06 billion won, and total operating expenses rose 7.7% on an annual basis to 265.89 billion won from 246.88 billion won.

The company said reported net income grew 71.7% on an annual basis to 9.87 billion won, or 296.00 won per share, in the full year, from 5.75 billion won, or 200.00 won per share.

As of March 16, US$1 was equivalent to 1,126.74 South Korean won.