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Good People Co. Ltd. Q3 profit falls YOY

Good People Co. Ltd. said its normalized net income for the third quarter came to 12.42 South Korean won per share, a decrease of 43.1% from 21.81 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 311.7 million won, a decline of 41.5% from 532.6 million won in the prior-year period.

The normalized profit margin declined to 0.9% from 1.5% in the year-earlier period.

Total revenue decreased 6.9% on an annual basis to 33.02 billion won from 35.45 billion won, and total operating expenses declined 5.8% year over year to 32.57 billion won from 34.56 billion won.

Reported net income decreased 31.5% year over year to 585.3 million won, or 23.32 won per share, from 854.6 million won, or 35.00 won per share.

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