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BAIKSAN Q1 profit climbs 36.0% YOY

BAIKSAN Co. Ltd. said its normalized net income for the first quarter came to 141.77 South Korean won per share, a gain of 35.7% from 104.51 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 3.43 billion won, a gain of 36.0% from 2.52 billion won in the year-earlier period.

The normalized profit margin rose to 8.3% from 5.8% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to 41.35 billion won from 43.54 billion won, and total operating expenses fell 10.0% from the prior-year period to 35.96 billion won from 39.95 billion won.

Reported net income grew 35.8% on an annual basis to 4.47 billion won, or 184.68 won per share, from 3.29 billion won, or 136.28 won per share.

As of May 15, US$1 was equivalent to 1,083.65 South Korean won.