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Youngone Holdings Q3 profit falls YOY

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Youngone Holdings Q3 profit falls YOY

Youngone Holdings Co. Ltd. said its normalized net income for the third quarter was 1,597.68 South Korean won per share, a decrease of 12.0% from 1,815.97 won per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 18.54 billion won, a decrease of 12.0% from 21.07 billion won in the prior-year period.

The normalized profit margin declined to 3.5% from 4.7% in the year-earlier period.

Total revenue climbed 19.3% year over year to 531.89 billion won from 445.86 billion won, and total operating expenses increased 32.2% year over year to 464.13 billion won from 351.17 billion won.

Reported net income fell 21.7% year over year to 28.84 billion won, or 2,485.14 won per share, from 36.83 billion won, or 3,174.00 won per share.

As of Nov. 16, US$1 was equivalent to 1,172.80 South Korean won.