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Cosmax BTI Q2 profit climbs YOY

Cosmax BTI Inc. said its normalized net income for the second quarter amounted to 235.51 South Korean won per share, an increase from 64.09 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 2.25 billion won, a gain from 291.8 million won in the year-earlier period.

The normalized profit margin rose to 4.4% from 0.9% in the year-earlier period.

Total revenue rose 54.0% year over year to 51.54 billion won from 33.48 billion won, and total operating expenses climbed 50.7% year over year to 47.25 billion won from 31.35 billion won.

Reported net income rose from the prior-year period to 4.25 billion won, or 444.72 won per share, from 692.5 million won, or 152.11 won per share.

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