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Daegu Department Store fiscal Q3 profit falls YOY

Daegu Department Store Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 206.64 South Korean won per share, an increase of 28.3% from 161.04 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 1.59 billion won, compared with 1.61 billion won in the year-earlier period.

The normalized profit margin climbed to 3.8% from 3.5% in the year-earlier period.

Total revenue fell 9.5% on an annual basis to 41.97 billion won from 46.38 billion won, and total operating expenses fell 11.4% year over year to 38.19 billion won from 43.10 billion won.

Reported net income decreased 15.5% from the prior-year period to 2.04 billion won, or 264.00 won per share, from 2.41 billion won, or 241.00 won per share.

As of Feb. 27, US$1 was equivalent to 1,101.10 South Korean won.