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Modetour Network Q1 profit climbs YOY

Modetour Network Inc. said its normalized net income for the first quarter came to 252.09 South Korean won per share, an increase from 115.24 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 4.63 billion won, a gain from 2.11 billion won in the year-earlier period.

The normalized profit margin rose to 9.2% from 5.2% in the year-earlier period.

Total revenue climbed 24.8% year over year to 50.36 billion won from 40.36 billion won, and total operating expenses grew 17.8% on an annual basis to 44.02 billion won from 37.37 billion won.

Reported net income increased 7.6% year over year to 5.62 billion won, or 305.73 won per share, from 5.22 billion won, or 285.57 won per share.

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