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Wonpung Mulsan Q1 profit falls YOY

Wonpung Mulsan Co. Ltd. said its first-quarter normalized net income was 4.70 South Korean won per share, a decline of 7.0% from 5.05 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 158.1 million won, a decrease of 11.1% from 177.9 million won in the prior-year period.

The normalized profit margin declined to 1.4% from 1.5% in the year-earlier period.

Total revenue came to 11.74 billion won, compared with 11.74 billion won in the prior-year period, and total operating expenses came to 11.35 billion won, compared with 11.26 billion won in the prior-year period.

Reported net income grew 25.4% on an annual basis to 213.8 million won, or 6.36 won per share, from 170.5 million won, or 4.84 won per share.

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