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SK Holdings Q2 profit falls YOY

SK Holdings Co. Ltd. said its second-quarter normalized net income was 4,542.62 South Korean won per share, a decline of 10.3% from 5,062.33 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 253.59 billion won, a decrease of 10.4% from 283.04 billion won in the year-earlier period.

The normalized profit margin declined to 1.2% from 1.3% in the year-earlier period.

Total revenue grew on an annual basis to 21.968 trillion won from 20.981 trillion won, and total operating expenses grew 8.2% year over year to 20.866 trillion won from 19.290 trillion won.

Reported net income grew 41.5% year over year to 421.47 billion won, or 7,549.88 won per share, from 297.89 billion won, or 5,327.95 won per share.

As of Aug. 14, US$1 was equivalent to 1,139.03 South Korean won.