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Castec Korea Q2 profit climbs 52.7% YOY

Castec Korea Co. Ltd. said its second-quarter normalized net income was 260.06 South Korean won per share, a gain of 37.1% from 189.63 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 3.17 billion won, a gain of 52.7% from 2.07 billion won in the prior-year period.

The normalized profit margin climbed to 5.9% from 4.0% in the year-earlier period.

Total revenue climbed on an annual basis to 53.61 billion won from 52.24 billion won, and total operating expenses increased on an annual basis to 49.56 billion won from 47.37 billion won.

Reported net income rose 61.2% from the prior-year period to 4.10 billion won, or 336.85 won per share, from 2.55 billion won, or 232.71 won per share.

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