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J.ESTINA Q2 profit falls YOY

J.ESTINA Co. Ltd. said its second-quarter normalized net income came to 23 South Korean chon per share, a decrease of 99.7% from 89.68 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 3.6 million won, a decrease of 99.7% from 1.35 billion won in the prior-year period.

The normalized profit margin dropped to 0.1% from 3.7% in the year-earlier period.

Total revenue declined year over year to 35.78 billion won from 36.60 billion won, and total operating expenses rose from the prior-year period to 35.69 billion won from 35.10 billion won.

Reported net income declined 91.0% from the prior-year period to 167.0 million won, or 10.78 won per share, from 1.85 billion won, or 122.14 won per share.

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