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PN Poong Nyun Q1 profit climbs 38.5% YOY

PN Poong Nyun Co. Ltd. said its normalized net income for the first quarter came to 62.42 South Korean won per share, a gain of 39.0% from 44.89 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 586.7 million won, a gain of 38.5% from 423.5 million won in the prior-year period.

The normalized profit margin increased to 3.0% from 2.2% in the year-earlier period.

Total revenue climbed 4.9% year over year to 19.81 billion won from 18.88 billion won, and total operating expenses increased on an annual basis to 18.90 billion won from 18.22 billion won.

Reported net income increased 35.6% year over year to 754.9 million won, or 80.32 won per share, from 556.6 million won, or 59.00 won per share.

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