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Sambo Motors Q2 profit climbs YOY

Sambo Motors Co. Ltd. said its second-quarter normalized net income came to 331.57 South Korean won per share, a gain from 79.61 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 3.46 billion won, a gain from 884.3 million won in the prior-year period.

The normalized profit margin increased to 1.7% from 0.4% in the year-earlier period.

Total revenue totaled 199.79 billion won, compared with 199.69 billion won in the year-earlier period, and total operating expenses climbed year over year to 194.25 billion won from 190.62 billion won.

Reported net income increased from the prior-year period to 5.39 billion won, or 516.00 won per share, from 2.56 billion won, or 230.39 won per share.

As of Aug. 17, US$1 was equivalent to 1,183.06 South Korean won.