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KC Feed swings to profit in Q4

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KC Feed swings to profit in Q4

KC Feed Co. Ltd. said its fourth-quarter normalized net income came to 34.50 South Korean won per share, compared with a loss of 57.51 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 416.0 million won, compared with a loss of 701.1 million won in the prior-year period.

The normalized profit margin climbed to 2.0% from negative 3.0% in the year-earlier period.

Total revenue fell 8.0% year over year to 21.31 billion won from 23.16 billion won, and total operating expenses declined 9.1% year over year to 21.06 billion won from 23.16 billion won.

Reported net income came to 393.0 million won, or 32.59 won per share, compared to a loss of 1.33 billion won, or a loss of 109.27 won per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of 87.67 won per share, compared with a loss of 109.81 won per share in the prior year.

Normalized net income was a loss of 1.06 billion won, compared with a loss of 1.32 billion won in the prior year.

Full-year total revenue decreased 10.2% year over year to 83.42 billion won from 92.88 billion won, and total operating expenses decreased 10.8% year over year to 83.80 billion won from 93.94 billion won.

The company said reported net income totaled a loss of 2.08 billion won, or a loss of 172.41 won per share, in the full year, compared with a loss of 2.74 billion won, or a loss of 227.00 won per share, the prior year.

As of March 9, US$1 was equivalent to 1,207.88 South Korean won.